Impact Partnership Wealth LLC Takes Position in W. P. Carey Inc. (NYSE:WPC)

Impact Partnership Wealth LLC purchased a new position in W. P. Carey Inc. (NYSE:WPC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,010 shares of the real estate investment trust’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WPC. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 35.9% in 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 during the last quarter. Catalytic Wealth RIA LLC boosted its position in shares of W. P. Carey by 5.2% during the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 198 shares during the period. Kowal Investment Group LLC boosted its position in shares of W. P. Carey by 3.4% during the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 199 shares during the period. Creative Planning grew its stake in shares of 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 during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of W. P. Carey by 6.2% in the first quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 208 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on WPC. JPMorgan Chase & Co. cut their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI raised their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays lifted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Scotiabank lowered 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. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Stock Up 0.6 %

Shares of NYSE WPC traded up $0.37 during midday trading on Thursday, reaching $59.40. 45,562 shares of the company’s stock traded hands, compared to its average volume of 1,205,333. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.11 and a beta of 0.94. The stock’s 50 day simple moving average is $60.67 and its 200-day simple moving average is $58.13. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a one year low of $51.60 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). The company had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same period last year, the business posted $1.36 EPS. On average, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal 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 issued a $0.875 dividend. The ex-dividend date was Monday, September 30th. This is an increase 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 5.89%. W. P. Carey’s payout ratio is currently 133.08%.

Insider Activity

In other news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.08% of the company’s stock.

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.