5,319 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by Private Advisory Group LLC

12 Oct 2024, 10:24 by Doug Wharley · The Cerbat Gem

Private Advisory Group LLC bought a new position in W. P. Carey Inc. (NYSE:WPC – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,319 shares of the real estate investment trust’s stock, valued at approximately $331,000.

Other large investors have also made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in W. P. Carey in the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its position 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 period. Allspring Global Investments Holdings LLC raised its position 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 period. Riverview Trust Co purchased a new position in W. P. Carey in the first quarter valued at about $28,000. Finally, Quarry LP raised its position in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Up 0.8 %

NYSE:WPC opened at $59.80 on Friday. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a one year low of $51.60 and a one year high of $67.40. The stock has a 50-day simple moving average of $60.20 and a 200 day simple moving average of $57.91. 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 (NYSE:WPC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS 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 analyst estimates of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

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

Insider Buying and Selling at W. P. Carey

In related news, Director Mark A. Alexander bought 3,500 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WPC shares. JPMorgan Chase & Co. cut their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. UBS Group raised their target price on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI raised their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.25.

Check Out Our Latest Stock Analysis on W. P. Carey

About W. P. Carey

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