Investmark Advisory Group LLC Buys 1,254 Shares of W. P. Carey Inc. (NYSE:WPC)

Investmark Advisory Group LLC grew its position in W. P. Carey Inc. (NYSE:WPC) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,425 shares of the real estate investment trust’s stock after purchasing an additional 1,254 shares during the period. Investmark Advisory Group LLC’s holdings in W. P. Carey were worth $2,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of W. P. Carey by 22.2% in 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 purchasing an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of W. P. Carey by 6.9% in the second 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 buying an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 103,147 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of W. P. Carey by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after purchasing an additional 7,549 shares in the last quarter. Finally, PGGM Investments boosted its stake in shares of W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on WPC. Barclays boosted their price objective on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI increased their price objective 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. Finally, Scotiabank cut 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. Eight 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 has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Stock Down 1.8 %

W. P. Carey stock opened at $56.02 on Tuesday. The stock has a fifty day moving average of $58.21 and a 200 day moving average of $58.15. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40. The stock has a market cap of $12.26 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96.

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

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.25%. W. P. Carey’s payout ratio is presently 137.80%.

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.