King Wealth Management Group Purchases New Position in W. P. Carey Inc. (NYSE:WPC)

King Wealth Management Group acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,495 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after acquiring an additional 588,636 shares during the period. Victory Capital Management Inc. raised its position in W. P. Carey by 649.4% during the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after buying an additional 479,973 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after acquiring an additional 444,785 shares during the period. Equity Investment Corp boosted its holdings in shares of W. P. Carey by 38.9% in the second quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock valued at $81,035,000 after acquiring an additional 412,450 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of W. P. Carey by 6,145.1% during the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after acquiring an additional 400,782 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.0 %

Shares of NYSE:WPC opened at $54.84 on Friday. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 21.59, a PEG 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 50 day moving average price of $59.63 and a 200 day moving average price of $58.19. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the business earned $1.32 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed 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 represents a $3.50 annualized dividend and a yield of 6.38%. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WPC. Evercore ISI upped their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. UBS Group lowered their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, Scotiabank dropped 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.