Jackson Wealth Management LLC Purchases 801 Shares of W. P. Carey Inc. (NYSE:WPC)

Jackson Wealth Management LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 17.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,384 shares of the real estate investment trust’s stock after purchasing an additional 801 shares during the period. Jackson Wealth Management LLC’s holdings in W. P. Carey were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in WPC. Goldman Sachs Group Inc. lifted its position in W. P. Carey by 15.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 308,057 shares of the real estate investment trust’s stock worth $19,965,000 after buying an additional 42,239 shares in the last quarter. Global Assets Advisory LLC bought a new stake in W. P. Carey during the 1st quarter worth about $1,038,000. Riverview Trust Co bought a new stake in W. P. Carey during the 1st quarter worth about $28,000. GoalVest Advisory LLC raised its holdings in W. P. Carey by 409.7% during the 1st quarter. GoalVest Advisory LLC now owns 3,221 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 2,589 shares during the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in shares of W. P. Carey by 30.6% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,263 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 296 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is owned by company insiders.

W. P. Carey Trading Up 0.4 %

WPC traded up $0.26 on Thursday, hitting $59.29. 105,842 shares of the company were exchanged, compared to its average volume of 1,205,625. The stock has a market capitalization of $12.97 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a 12 month low of $51.60 and a 12 month high of $67.40. The firm has a fifty day simple moving average of $60.67 and a two-hundred day simple moving average of $58.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data 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). The company had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 EPS. Sell-side analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 5.90%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 133.08%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Barclays lifted their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. 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 report on Wednesday, August 7th. Finally, Evercore ISI boosted their price objective 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $63.25.

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.