Boston Financial Mangement LLC Reduces Stock Position in W. P. Carey Inc. (NYSE:WPC)

Boston Financial Mangement LLC reduced its position in shares of W. P. Carey Inc. (NYSE:WPC) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,370 shares of the real estate investment trust’s stock after selling 600 shares during the period. Boston Financial Mangement LLC’s holdings in W. P. Carey were worth $397,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. abrdn plc lifted its holdings in W. P. Carey by 9.9% in the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after buying an additional 9,229 shares during the period. Old Port Advisors lifted its holdings in W. P. Carey by 5.0% in the third quarter. Old Port Advisors now owns 9,338 shares of the real estate investment trust’s stock worth $582,000 after buying an additional 441 shares during the period. Richardson Financial Services Inc. lifted its holdings in W. P. Carey by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 926 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 463 shares during the period. Graham Capital Wealth Management LLC purchased a new stake in W. P. Carey in the third quarter worth about $3,173,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in W. P. Carey by 9.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 143,926 shares of the real estate investment trust’s stock worth $8,933,000 after buying an additional 12,109 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of WPC opened at $56.72 on Wednesday. The company has a market capitalization of $12.41 billion, a P/E ratio of 21.57, a price-to-earnings-growth 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. The firm has a 50 day moving average of $60.65 and a 200 day moving average of $58.19. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month high of $67.40.

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 for the quarter, missing the consensus estimate of $1.12 by ($0.47). The firm had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey’s revenue was down 13.9% on a year-over-year basis. During the same period last year, the business earned $1.36 EPS. As a group, equities research analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.17%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 133.08%.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $55.87 per share, with a total value 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on shares of 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. UBS Group raised their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.25.

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.