Pathway Financial Advisers LLC Increases Position in W. P. Carey Inc. (NYSE:WPC)

Pathway Financial Advisers LLC increased its stake in W. P. Carey Inc. (NYSE:WPC) by 3.2% during the 3rd quarter, Holdings Channel reports. The fund owned 34,352 shares of the real estate investment trust’s stock after purchasing an additional 1,055 shares during the quarter. Pathway Financial Advisers LLC’s holdings in W. P. Carey were worth $2,140,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WPC. HB Wealth Management LLC lifted its holdings 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 worth $684,000 after buying an additional 8,843 shares during the last quarter. SG Americas Securities LLC increased its stake in 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 buying an additional 46,181 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of W. P. Carey by 69.5% during 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 acquiring an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after buying an additional 9,324 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of W. P. Carey by 9.8% in 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 buying an additional 9,619 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 2.2 %

Shares of WPC traded down $1.27 during mid-day trading on Friday, reaching $57.28. The company had a trading volume of 975,363 shares, compared to its average volume of 1,208,532. W. P. Carey Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $67.40. The firm has a fifty day simple moving average of $60.71 and a 200-day simple moving average of $58.15. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last issued its 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 business had revenue of $389.70 million during 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 business’s revenue was down 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.875 dividend. 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. This represents a $3.50 annualized dividend and a yield of 6.11%. W. P. Carey’s dividend payout ratio is currently 133.08%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Evercore ISI boosted their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. UBS Group lifted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Barclays raised their price objective 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. Finally, Royal Bank of Canada decreased their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and a consensus target price of $63.25.

Insider Activity

In other news, Director Mark A. Alexander acquired 3,500 shares of the 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 completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.08% of the company’s stock.

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.