W. P. Carey Inc. (NYSE:WPC) Stake Increased by AE Wealth Management LLC

AE Wealth Management LLC raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 20.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,778 shares of the real estate investment trust’s stock after acquiring an additional 1,631 shares during the quarter. AE Wealth Management LLC’s holdings in W. P. Carey were worth $538,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. acquired a new position in W. P. Carey in the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV raised its position in shares of 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 valued at $26,000 after acquiring an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the period. Riverview Trust Co bought a new stake in W. P. Carey during the first quarter valued at $28,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of W. P. Carey during the first quarter worth $30,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WPC shares. UBS Group lifted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. dropped their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. 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 research report on Wednesday, August 7th. Royal Bank of Canada dropped their target price 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. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey has an average rating of “Hold” and an average price target of $61.13.

Insider Activity

In other news, Director Mark A. Alexander bought 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the purchase, the director now directly 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 at this link. 1.08% of the stock is owned by insiders.

W. P. Carey Price Performance

Shares of WPC opened at $62.84 on Friday. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. The stock’s fifty day moving average is $59.85 and its 200-day moving average is $57.57. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results 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 the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 earnings per share. Equities analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date is Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

About W. P. Carey

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.