Trust Point Inc. Takes Position in W. P. Carey Inc. (NYSE:WPC)

Trust Point Inc. bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,540 shares of the real estate investment trust’s stock, valued at approximately $221,000.

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

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $60.01 on Friday. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 1.11 and a beta of 0.94. The firm’s 50-day moving average price is $60.52 and its two-hundred day moving average price is $58.03. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 1-year low of $51.60 and a 1-year high of $67.40.

W. P. Carey (NYSE:WPC) last released its quarterly 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). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue was down 13.9% on a year-over-year basis. On average, equities analysts predict 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 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. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 5.83%. W. P. Carey’s dividend payout ratio is 133.08%.

Insiders Place Their Bets

In related news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were 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 owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on 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. Royal Bank of Canada dropped their price objective 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. Evercore ISI lifted 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 report on Monday, September 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Barclays lifted 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $63.25.

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.