Armstrong Fleming & Moore Inc Has $3.29 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Armstrong Fleming & Moore Inc trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,823 shares of the real estate investment trust’s stock after selling 3,325 shares during the period. W. P. Carey accounts for 1.9% of Armstrong Fleming & Moore Inc’s holdings, making the stock its 9th largest position. Armstrong Fleming & Moore Inc’s holdings in W. P. Carey were worth $3,291,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WPC. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC lifted its position in W. P. Carey by 5.2% during the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 198 shares during the period. Kowal Investment Group LLC grew its stake in W. P. Carey by 3.4% during the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 199 shares in the last quarter. Creative Planning grew its stake in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after buying an additional 207 shares in the last quarter. Finally, HB Wealth Management LLC increased its holdings in W. P. Carey by 6.2% in 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 buying an additional 208 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at W. P. Carey

In related news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WPC shares. Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Barclays lifted their target price on 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. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Eight investment 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 presently has an average rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Trading Down 1.3 %

Shares of W. P. Carey stock traded down $0.75 on Thursday, hitting $59.17. The stock had a trading volume of 157,085 shares, compared to its average volume of 1,214,888. The stock has a 50 day moving average of $60.40 and a 200 day moving average of $58.00. The firm has a market capitalization of $12.95 billion, a P/E ratio of 22.79, a PEG ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month 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 announced 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 business had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 5.92%. W. P. Carey’s payout ratio is presently 133.08%.

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.