W. P. Carey Inc. (NYSE:WPC) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 55.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,797 shares of the real estate investment trust’s stock after selling 3,464 shares during the quarter. LGT Financial Advisors LLC’s holdings in W. P. Carey were worth $174,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC increased its stake in W. P. Carey by 5.2% in the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 198 shares in the last quarter. Kowal Investment Group LLC raised its holdings in W. P. Carey by 3.4% during the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 199 shares during the period. Creative Planning lifted its stake in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after buying an additional 207 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of W. P. Carey by 9.5% in the third quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WPC shares. JPMorgan Chase & Co. reduced their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Evercore ISI increased their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. UBS Group lifted 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.25.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average cost 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 $2,129,987.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is owned by company insiders.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $55.40 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey Inc. has a one year low of $53.01 and a one year high of $67.40. The business’s 50-day moving average price is $60.18 and its two-hundred day moving average price is $58.22. The company has a market capitalization of $12.12 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 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 firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the firm posted $1.32 EPS. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This is a positive change 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 dividend yield of 6.32%. W. P. Carey’s dividend payout ratio is 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.