FSA Wealth Management LLC Makes New $81,000 Investment in W. P. Carey Inc. (NYSE:WPC)

FSA Wealth Management LLC purchased a new stake in W. P. Carey Inc. (NYSE:WPC) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,298 shares of the real estate investment trust’s stock, valued at approximately $81,000.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of W. P. Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after buying an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of W. P. Carey by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after buying an additional 103,147 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in W. P. Carey by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after acquiring an additional 7,549 shares in the last quarter. Finally, PGGM Investments boosted its holdings in W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after acquiring an additional 389,853 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

NYSE:WPC opened at $57.06 on Monday. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $12.49 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The business’s fifty day moving average price is $58.36 and its 200 day moving average price is $58.18.

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 for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. During the same period last year, the business posted $1.32 EPS. On average, sell-side 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 business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.13%. W. P. Carey’s dividend payout ratio is presently 137.80%.

Analysts Set New Price Targets

A number of brokerages have issued reports on WPC. Scotiabank cut their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. 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. Evercore ISI boosted 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 note on Monday, September 16th. Barclays increased 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, UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus target price 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.