GAMMA Investing LLC Raises Position in W. P. Carey Inc. (NYSE:WPC)

GAMMA Investing LLC grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,444 shares of the real estate investment trust’s stock after purchasing an additional 212 shares during the quarter. GAMMA Investing LLC’s holdings in W. P. Carey were worth $152,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in shares of W. P. Carey during the 1st quarter worth $26,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the period. Riverview Trust Co purchased a new position in shares of W. P. Carey during the 1st quarter worth $28,000. Finally, Quarry LP lifted its stake in shares of W. P. Carey by 175.9% during the 2nd 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. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore ISI increased their target price on 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. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. 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 report on Tuesday, October 1st. UBS Group increased their target price 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. Finally, Royal Bank of Canada cut 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.25.

Insider Activity

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The trade was 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. Insiders own 1.08% of the company’s stock.

W. P. Carey Stock Up 0.8 %

Shares of NYSE WPC opened at $59.82 on Friday. W. P. Carey Inc. has a 12-month low of $51.60 and a 12-month high of $67.40. The company has a market cap of $13.09 billion, a P/E ratio of 22.75, a P/E/G 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. The stock has a fifty day moving average price of $60.20 and a 200 day moving average price of $57.92.

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 for the quarter, missing the consensus estimate of $1.12 by ($0.47). The business had revenue of $389.70 million for the quarter, compared to analyst estimates 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 revenue was down 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. Research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. The ex-dividend date is Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 5.85%. W. P. Carey’s dividend payout ratio (DPR) is currently 133.08%.

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.