Park Avenue Securities LLC Decreases Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Park Avenue Securities LLC trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 7.6% during the 3rd quarter, Holdings Channel reports. The fund owned 5,883 shares of the real estate investment trust’s stock after selling 483 shares during the period. Park Avenue Securities LLC’s holdings in W. P. Carey were worth $366,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC increased its position in shares of W. P. Carey by 5.2% during the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 198 shares during the last quarter. Kowal Investment Group LLC increased its position in shares of W. P. Carey by 3.4% during the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 199 shares during the last quarter. HB Wealth Management LLC increased its position in shares of W. P. Carey by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 208 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of W. P. Carey by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock valued at $441,000 after purchasing an additional 209 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

WPC opened at $59.82 on Friday. W. P. Carey Inc. has a 12-month low of $51.60 and a 12-month high of $67.40. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The business’s fifty day simple moving average is $60.20 and its 200-day simple moving average is $57.92. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.11 and a beta of 0.94.

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

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Monday, September 30th. W. P. Carey’s dividend payout ratio is 133.08%.

Insider Buying and Selling

In related news, Director Mark A. Alexander acquired 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WPC has been the topic of several analyst reports. Evercore ISI boosted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. UBS Group upped their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Finally, Barclays upped their price objective on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.25.

W. P. Carey 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.