W. P. Carey Inc. (NYSE:WPC) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 69.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 22,819 shares of the real estate investment trust’s stock after acquiring an additional 9,353 shares during the period. EverSource Wealth Advisors LLC’s holdings in W. P. Carey were worth $1,319,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WPC. Richardson Financial Services Inc. acquired a new position in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 231 shares during the period. Allspring Global Investments Holdings LLC grew its stake in W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares during the period. Riverview Trust Co acquired a new position in W. P. Carey in the 1st quarter valued at $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of W. P. Carey during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WPC. Scotiabank lowered their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada decreased their target price on shares of 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. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Finally, Wells Fargo & Company lifted their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and an average target price of $60.30.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey 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 price of $55.87 per share, with a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.08% of the stock is owned by corporate insiders.

W. P. Carey Price Performance

Shares of WPC opened at $62.24 on Monday. The stock’s fifty day moving average is $59.52 and its 200-day moving average is $57.41. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) 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 firm had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same quarter last year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. Equities analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.875 dividend. The ex-dividend date is 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 5.62%. W. P. Carey’s payout ratio is 132.32%.

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.