RPg Family Wealth Advisory LLC Invests $44,000 in W. P. Carey Inc. (NYSE:WPC)

RPg Family Wealth Advisory LLC acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 700 shares of the real estate investment trust’s stock, valued at approximately $44,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after acquiring an additional 588,636 shares during the period. Dimensional Fund Advisors LP boosted its stake in W. P. Carey by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares during the period. Charles Schwab Investment Management Inc. grew its position in W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after purchasing an additional 103,147 shares during the last quarter. Bank of New York Mellon Corp grew its position in W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after purchasing an additional 7,549 shares during the last quarter. Finally, PGGM Investments increased its stake in shares of W. P. Carey by 18.5% in the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after purchasing an additional 389,853 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WPC has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays lifted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Scotiabank decreased their target price on shares of 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 lowered their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reaffirmed 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Trading Up 1.2 %

Shares of NYSE:WPC opened at $57.54 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.07 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The company has a 50 day moving average price of $58.70 and a 200 day moving average price of $58.21.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share. On average, research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. 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 6.08%. W. P. Carey’s dividend payout ratio is currently 137.80%.

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.