Empower Advisory Group LLC Has $371,000 Stock Position in W. P. Carey Inc. (NYSE:WPC)

Empower Advisory Group LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,957 shares of the real estate investment trust’s stock after selling 564 shares during the quarter. Empower Advisory Group LLC’s holdings in W. P. Carey were worth $371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. HB Wealth Management LLC lifted its stake in shares of W. P. Carey by 247.3% during the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after buying an additional 8,843 shares during the last quarter. SG Americas Securities LLC boosted its stake in W. P. Carey by 41.9% in the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after purchasing an additional 46,181 shares during the period. EverSource Wealth Advisors LLC grew its holdings in W. P. Carey by 69.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after buying an additional 9,353 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in W. P. Carey by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after buying an additional 9,324 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in shares of W. P. Carey by 9.8% during the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after buying an additional 9,619 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

NYSE:WPC opened at $54.84 on Friday. The stock’s 50-day moving average is $59.63 and its 200-day moving average is $58.19. The stock has a market cap of $12.00 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the business posted $1.32 EPS. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.38%. W. P. Carey’s dividend payout ratio is presently 137.80%.

Analyst Ratings Changes

Several research analysts have recently commented on WPC shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a 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 on the stock in a research report on Thursday, August 1st. Barclays boosted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Evercore ISI upped their price objective 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.88.

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.