W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Napa Wealth Management

Napa Wealth Management lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 19.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,716 shares of the real estate investment trust’s stock after buying an additional 778 shares during the quarter. Napa Wealth Management’s holdings in W. P. Carey were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WPC. Massachusetts Financial Services Co. MA grew its position 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 worth $178,401,000 after buying an additional 588,636 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after buying an additional 479,973 shares in the last quarter. Hsbc Holdings PLC grew its position 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 buying an additional 444,785 shares in the last quarter. Equity Investment Corp grew its position in shares of W. P. Carey by 38.9% during the second quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after buying an additional 412,450 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of W. P. Carey by 6,145.1% during the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

WPC stock opened at $55.71 on Monday. The company has a market capitalization of $12.19 billion, a P/E ratio of 21.96, a PEG ratio of 1.04 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The business has a 50 day simple moving average of $59.52 and a 200-day simple moving average of $58.23. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

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. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business 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 represents a $3.50 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 137.80%.

Analyst Ratings Changes

WPC has been the subject of a number of analyst reports. Barclays boosted their price objective on 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 lowered their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. 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. Finally, Evercore ISI upped their price target 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus price target of $62.88.

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.