Cornerstone Wealth Management LLC Acquires 986 Shares of W. P. Carey Inc. (NYSE:WPC)

Cornerstone Wealth Management LLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,933 shares of the real estate investment trust’s stock after acquiring an additional 986 shares during the period. Cornerstone Wealth Management LLC’s holdings in W. P. Carey were worth $1,429,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. HB Wealth Management LLC increased its holdings in W. P. Carey by 247.3% in the second 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 last quarter. SG Americas Securities LLC increased its stake in shares of W. P. Carey by 41.9% in the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after acquiring an additional 46,181 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of W. P. Carey by 69.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after acquiring an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in W. P. Carey by 2.1% during the 1st 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 holdings 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 purchasing an additional 9,619 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Evercore ISI lifted 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 report on Monday, September 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Royal Bank of Canada reduced their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $59.31 on Friday. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The stock’s 50-day moving average is $60.45 and its 200-day moving average is $58.00. W. P. Carey Inc. has a one year low of $51.60 and a one year high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million during 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 business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. Equities analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 5.90%. 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 dividend payout ratio is presently 133.08%.

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.