Avondale Wealth Management Acquires New Position in W. P. Carey Inc. (NYSE:WPC)

Avondale Wealth Management acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,000 shares of the real estate investment trust’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WPC. Richardson Financial Services Inc. acquired a new stake in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the last quarter. Riverview Trust Co purchased a new stake in W. P. Carey in the 1st quarter valued at approximately $28,000. Finally, Quarry LP grew its holdings in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at W. P. Carey

In other news, Director Mark A. Alexander purchased 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of analyst reports. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. UBS Group boosted their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Barclays upped their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.25.

W. P. Carey Trading Up 0.8 %

WPC traded up $0.50 on Friday, reaching $59.82. 589,337 shares of the company’s stock were exchanged, compared to its average volume of 1,221,111. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month high of $67.40. The company’s 50 day moving average is $60.20 and its 200-day moving average is $57.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The business had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business’s revenue was down 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. Equities analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 5.85%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is presently 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.