Trust Point Inc. Invests $221,000 in W. P. Carey Inc. (NYSE:WPC)

Trust Point Inc. purchased a new stake in W. P. Carey Inc. (NYSE:WPC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,540 shares of the real estate investment trust’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. acquired a new position in shares of W. P. Carey in the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV grew its position in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the period. Riverview Trust Co purchased a new stake in shares of W. P. Carey in the first quarter valued at $28,000. Finally, Quarry LP boosted its position in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 357 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.2 %

W. P. Carey stock opened at $60.01 on Friday. W. P. Carey Inc. has a one year low of $51.60 and a one year high of $67.40. The company’s fifty day moving average price is $60.52 and its two-hundred day moving average price is $58.03. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The company had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business’s revenue was down 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 EPS. On average, analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is currently 133.08%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WPC shares. Evercore ISI increased their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada decreased their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays boosted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.25.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.08% of the stock is currently owned by company insiders.

W. P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.