Naviter Wealth LLC Has $1.41 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

Naviter Wealth LLC lifted its position in W. P. Carey Inc. (NYSE:WPC) by 16.0% in the third quarter, HoldingsChannel.com reports. The firm owned 22,321 shares of the real estate investment trust’s stock after acquiring an additional 3,079 shares during the period. Naviter Wealth LLC’s holdings in W. P. Carey were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in W. P. Carey in the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV increased its stake in W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares during the period. Allspring Global Investments Holdings LLC increased its stake in W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares during the period. Riverview Trust Co acquired a new position in W. P. Carey in the first quarter worth about $28,000. Finally, Quarry LP lifted its stake in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares during the period. 73.73% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark A. Alexander purchased 3,500 shares of the firm’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 directly owns 38,124 shares in the company, 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on WPC. JPMorgan Chase & Co. lowered their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Scotiabank cut their price objective 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. Evercore ISI boosted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.25.

W. P. Carey Stock Performance

W. P. Carey stock opened at $59.31 on Friday. W. P. Carey Inc. has a 12-month low of $51.60 and a 12-month high of $67.40. The stock has a 50-day simple moving average of $60.45 and a 200 day simple moving average of $58.00. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 1.11 and a beta of 0.94.

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 analysts’ consensus estimates 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 company had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. W. P. Carey’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, research analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 5.90%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) 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.