Western Wealth Management LLC Reduces Holdings in W. P. Carey Inc. (NYSE:WPC)

Western Wealth Management LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,835 shares of the real estate investment trust’s stock after selling 780 shares during the quarter. Western Wealth Management LLC’s holdings in W. P. Carey were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Demars Financial Group LLC grew its position in W. P. Carey by 4.8% during the 2nd quarter. Demars Financial Group LLC now owns 9,667 shares of the real estate investment trust’s stock worth $532,000 after purchasing an additional 444 shares during the last quarter. Raymond James & Associates grew its stake in W. P. Carey by 23.6% in the 2nd quarter. Raymond James & Associates now owns 360,517 shares of the real estate investment trust’s stock valued at $19,846,000 after acquiring an additional 68,886 shares during the period. Blue Trust Inc. raised its position in shares of W. P. Carey by 249.1% during the 2nd quarter. Blue Trust Inc. now owns 946 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 675 shares during the last quarter. Prairiewood Capital LLC boosted its stake in shares of W. P. Carey by 7.8% in the second quarter. Prairiewood Capital LLC now owns 63,754 shares of the real estate investment trust’s stock worth $3,510,000 after acquiring an additional 4,594 shares during the last quarter. Finally, Cordatus Wealth Management LLC grew its stake in W. P. Carey by 8.8% during the 2nd quarter. Cordatus Wealth Management LLC now owns 4,747 shares of the real estate investment trust’s stock valued at $261,000 after acquiring an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Activity at W. P. Carey

In related news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.08% of the stock is currently owned by insiders.

W. P. Carey Stock Performance

Shares of WPC traded up $1.07 during mid-day trading on Monday, hitting $58.30. The company’s stock had a trading volume of 163,322 shares, compared to its average volume of 1,284,726. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.93. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40. The stock’s 50-day moving average is $56.80 and its two-hundred day moving average is $56.83. The firm has a market capitalization of $12.76 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The company’s revenue was down 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 5.97%. The ex-dividend date was Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 132.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WPC shares. Royal Bank of Canada reduced their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. UBS Group raised their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company cut their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Finally, Scotiabank reduced their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued 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 an average price target of $60.91.

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.