Armstrong Advisory Group Inc. Has $84,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Armstrong Advisory Group Inc. decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 40.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,351 shares of the real estate investment trust’s stock after selling 931 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in W. P. Carey were worth $84,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Equity Investment Corp bought a new stake in shares of W. P. Carey during the first quarter worth about $59,802,000. Vanguard Group Inc. increased its position in W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after acquiring an additional 657,188 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of W. P. Carey by 22.2% during 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 acquiring an additional 588,636 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of W. P. Carey by 185.7% during the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after purchasing an additional 444,785 shares during the period. Finally, PGGM Investments grew its stake in shares of W. P. Carey by 18.5% in the second 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 own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on WPC. JPMorgan Chase & Co. cut their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada decreased their target price on shares of 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. Barclays boosted their price target 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. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average price target of $63.25.

W. P. Carey Trading Up 0.1 %

NYSE:WPC opened at $59.90 on Tuesday. The firm has a fifty day simple moving average of $60.28 and a two-hundred day simple moving average of $57.96. W. P. Carey Inc. has a 12 month low of $51.60 and a 12 month high of $67.40. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.11 and a beta of 0.94. 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 (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. Analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date is Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 133.08%.

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.