Brown Lisle Cummings Inc. Purchases 1,144 Shares of W. P. Carey Inc. (NYSE:WPC)

Brown Lisle Cummings Inc. lifted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,106 shares of the real estate investment trust’s stock after acquiring an additional 1,144 shares during the period. W. P. Carey makes up approximately 0.9% of Brown Lisle Cummings Inc.’s portfolio, making the stock its 29th largest position. Brown Lisle Cummings Inc.’s holdings in W. P. Carey were worth $2,935,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in W. P. Carey by 15.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 308,057 shares of the real estate investment trust’s stock worth $19,965,000 after buying an additional 42,239 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of W. P. Carey by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock valued at $441,000 after purchasing an additional 209 shares during the last quarter. GAMMA Investing LLC lifted its position in W. P. Carey by 26.6% during the first quarter. GAMMA Investing LLC now owns 1,282 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 269 shares during the period. Opal Wealth Advisors LLC purchased a new stake in W. P. Carey in the first quarter worth approximately $37,000. Finally, Global Assets Advisory LLC bought a new stake in W. P. Carey in the 1st quarter worth approximately $1,038,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Trading Up 1.2 %

W. P. Carey stock opened at $60.01 on Monday. W. P. Carey Inc. has a 12-month low of $51.60 and a 12-month high of $67.40. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 1.11 and a beta of 0.94. The firm has a 50 day moving average of $60.52 and a 200 day moving average of $58.07. 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 (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. As a group, research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.83%. W. P. Carey’s dividend payout ratio is currently 133.08%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WPC. Scotiabank lowered their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company reissued 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. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. UBS Group raised their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. 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, W. P. Carey currently has an average rating of “Hold” and an average price target of $63.25.

Insider Buying and Selling at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.