Ashton Thomas Private Wealth LLC Boosts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Ashton Thomas Private Wealth LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 36.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,859 shares of the real estate investment trust’s stock after acquiring an additional 7,367 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in W. P. Carey were worth $1,736,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WPC. Massmutual Trust Co. FSB ADV boosted its stake in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC boosted its position in W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares during the period. Quarry LP grew its stake in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of W. P. Carey during the second quarter worth $34,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of W. P. Carey in the second quarter valued at $39,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WPC has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Barclays lifted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. UBS Group increased their target price on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Evercore ISI increased their price objective 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. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Down 0.9 %

Shares of NYSE WPC opened at $55.24 on Wednesday. The business has a 50-day moving average price of $59.86 and a 200 day moving average price of $58.23. The stock has a market cap of $12.09 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 52-week low of $53.01 and a 52-week high of $67.40.

W. P. Carey (NYSE:WPC) last posted 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 firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’s revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 earnings per share. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. 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 6.34%. W. P. Carey’s 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.