Fortitude Family Office LLC Raises Stock Position in W. P. Carey Inc. (NYSE:WPC)

Fortitude Family Office LLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 962.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 680 shares of the real estate investment trust’s stock after acquiring an additional 616 shares during the quarter. Fortitude Family Office LLC’s holdings in W. P. Carey were worth $42,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. HB Wealth Management LLC raised its stake in W. P. Carey by 247.3% during the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares during the period. SG Americas Securities LLC lifted its holdings in shares of W. P. Carey by 41.9% in the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after buying an additional 46,181 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of W. P. Carey by 69.5% in the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 9,353 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of W. P. Carey by 2.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after acquiring an additional 9,324 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in W. P. Carey by 9.8% during the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after acquiring an additional 9,619 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on WPC shares. 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 report on Thursday, August 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Evercore ISI lifted their price objective on 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. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group boosted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Eight 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, the stock has an average rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Down 1.3 %

Shares of WPC opened at $56.72 on Wednesday. The company has a market cap of $12.41 billion, a PE ratio of 21.57, a P/E/G ratio of 1.11 and a beta of 0.94. The business has a fifty day moving average of $60.65 and a 200 day moving average of $58.19. W. P. Carey Inc. has a 52-week low of $51.60 and a 52-week high of $67.40. 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 (NYSE:WPC) last released 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). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter last year, the business posted $1.36 EPS. W. P. Carey’s revenue was down 13.9% compared to the same quarter last year. On average, sell-side analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.17%. The ex-dividend date was 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 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.