Creative Planning Has $4.03 Million Position in W. P. Carey Inc. (NYSE:WPC)

Creative Planning boosted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,709 shares of the real estate investment trust’s stock after purchasing an additional 207 shares during the quarter. Creative Planning’s holdings in W. P. Carey were worth $4,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of W. P. Carey by 7.3% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 9,615 shares of the real estate investment trust’s stock worth $599,000 after buying an additional 650 shares in the last quarter. Carnegie Investment Counsel grew its position in shares of W. P. Carey by 20.5% during the 3rd quarter. Carnegie Investment Counsel now owns 173,837 shares of the real estate investment trust’s stock worth $10,830,000 after purchasing an additional 29,527 shares in the last quarter. Avondale Wealth Management bought a new position in shares of W. P. Carey during the third quarter worth approximately $62,000. Gateway Investment Advisers LLC raised its position in shares of W. P. Carey by 16.5% in the third quarter. Gateway Investment Advisers LLC now owns 81,658 shares of the real estate investment trust’s stock valued at $5,087,000 after buying an additional 11,561 shares in the last quarter. Finally, LVW Advisors LLC bought a new stake in shares of W. P. Carey in the third quarter valued at approximately $212,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Down 2.2 %

WPC opened at $57.28 on Friday. The company’s 50-day moving average price is $60.71 and its two-hundred day moving average price is $58.15. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month high of $67.40. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.11 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its 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%. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. As a group, equities analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced 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. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.11%. W. P. Carey’s dividend payout ratio is currently 133.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Evercore ISI boosted their target price 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. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank dropped their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays raised their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.25.

Insider Transactions at W. P. Carey

In other W. P. Carey 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 bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.08% of the company’s stock.

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.