Joel Isaacson & Co. LLC Has $285,000 Position in W. P. Carey Inc. (NYSE:WPC)

Joel Isaacson & Co. LLC cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,573 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in W. P. Carey were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WPC. Cornerstone Wealth Group LLC lifted its stake in W. P. Carey by 9.1% in the first quarter. Cornerstone Wealth Group LLC now owns 5,174 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 431 shares during the period. LVW Advisors LLC raised its position in shares of W. P. Carey by 149.6% in the 1st quarter. LVW Advisors LLC now owns 9,747 shares of the real estate investment trust’s stock valued at $550,000 after acquiring an additional 5,842 shares during the period. Kowal Investment Group LLC boosted its stake in W. P. Carey by 44.2% during the 1st quarter. Kowal Investment Group LLC now owns 5,871 shares of the real estate investment trust’s stock worth $331,000 after acquiring an additional 1,800 shares during the last quarter. State of Michigan Retirement System grew its holdings in W. P. Carey by 2.3% during the first quarter. State of Michigan Retirement System now owns 53,700 shares of the real estate investment trust’s stock valued at $3,031,000 after purchasing an additional 1,200 shares during the period. Finally, Naviter Wealth LLC increased its stake in W. P. Carey by 17.4% in the first quarter. Naviter Wealth LLC now owns 18,116 shares of the real estate investment trust’s stock valued at $1,038,000 after purchasing an additional 2,691 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $57.28 on Friday. 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 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 $60.71 and a 200 day simple moving average of $58.15. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.11 and a beta of 0.94.

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 for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the previous year, the business earned $1.36 EPS. W. P. Carey’s revenue was down 13.9% on a year-over-year basis. Research analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.11%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is presently 133.08%.

Analyst Upgrades and Downgrades

WPC has been the subject of several research analyst reports. Evercore ISI boosted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. 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 research note on Wednesday, August 7th. Finally, Barclays lifted their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.25.

Insiders Place Their Bets

In other news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.08% of the company’s stock.

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.