W. P. Carey Inc. (NYSE:WPC) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC decreased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,517 shares of the real estate investment trust’s stock after selling 309 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in W. P. Carey were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new position in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in W. P. Carey by 93.1% in 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 purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Riverview Trust Co acquired a new stake in W. P. Carey during the 1st quarter valued at approximately $28,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of W. P. Carey in the 1st quarter valued at approximately $30,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WPC shares. Scotiabank dropped their price target on shares of 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. 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. JPMorgan Chase & Co. lowered their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Evercore ISI lifted 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. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.25.

W. P. Carey Stock Performance

WPC stock opened at $61.01 on Friday. The company has a market capitalization of $13.35 billion, a P/E ratio of 23.20, a PEG ratio of 1.18 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a 50-day simple moving average of $60.08 and a 200 day simple moving average of $57.72. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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 company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter last year, the business earned $1.36 earnings per share. The company’s revenue was down 13.9% on a year-over-year basis. Sell-side analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date is Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 133.08%.

Insider Activity

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. Insiders own 1.08% of the company’s stock.

W. P. Carey Company 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.