Insight Wealth Partners LLC Reduces Stock Position in W. P. Carey Inc. (NYSE:WPC)

Insight Wealth Partners LLC cut its stake in W. P. Carey Inc. (NYSE:WPC) by 25.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,820 shares of the real estate investment trust’s stock after selling 1,301 shares during the quarter. Insight Wealth Partners LLC’s holdings in W. P. Carey were worth $238,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of W. P. Carey by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 157,771 shares of the real estate investment trust’s stock worth $8,906,000 after buying an additional 5,975 shares in the last quarter. SVB Wealth LLC purchased a new stake in W. P. Carey in the 1st quarter worth approximately $214,000. B. Riley Wealth Advisors Inc. boosted its holdings in W. P. Carey by 14.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,104 shares of the real estate investment trust’s stock valued at $888,000 after purchasing an additional 2,058 shares during the period. Tidal Investments LLC purchased a new position in shares of W. P. Carey during the 1st quarter valued at $342,000. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of W. P. Carey in the first quarter worth $248,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Trading Down 1.2 %

NYSE WPC opened at $56.84 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $58.83 and a 200-day moving average of $58.22. The firm has a market cap of $12.44 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.07 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the business posted $1.32 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed 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 6.16%. This is an increase 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 is 137.80%.

Analyst Ratings Changes

Several research firms recently issued reports on WPC. Royal Bank of Canada dropped their price objective 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays increased their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Evercore ISI upped their target price 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. Finally, Scotiabank lowered their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.88.

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.