HBW Advisory Services LLC Trims Holdings in W. P. Carey Inc. (NYSE:WPC)

HBW Advisory Services LLC trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 23.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,172 shares of the real estate investment trust’s stock after selling 1,290 shares during the quarter. HBW Advisory Services LLC’s holdings in W. P. Carey were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WPC. Richardson Financial Services Inc. purchased a new stake in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its stake in shares of W. P. Carey by 93.1% during the second 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 shares of 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 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 approximately $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in W. P. Carey during the 1st quarter worth $30,000. 73.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on WPC. Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. JPMorgan Chase & Co. dropped their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Scotiabank reduced their price target on shares of 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. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.25.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. 1.08% of the stock is currently owned by company insiders.

W. P. Carey Stock Down 1.2 %

Shares of W. P. Carey stock opened at $60.25 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a market cap of $13.18 billion, a P/E ratio of 22.91, a PEG ratio of 1.18 and a beta of 0.94. The firm’s 50 day moving average price is $60.11 and its 200-day moving average price is $57.79. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.40.

W. P. Carey (NYSE:WPC) last released 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). The firm had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. W. P. Carey’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given 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 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Monday, September 30th. W. P. Carey’s dividend payout ratio is currently 133.08%.

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.