CreativeOne Wealth LLC Buys 523 Shares of W. P. Carey Inc. (NYSE:WPC)

CreativeOne Wealth LLC raised its position in W. P. Carey Inc. (NYSE:WPC) by 14.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,236 shares of the real estate investment trust’s stock after buying an additional 523 shares during the period. CreativeOne Wealth LLC’s holdings in W. P. Carey were worth $264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 22.2% in the second 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of W. P. Carey by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares during the period. Bank of New York Mellon Corp raised its stake in shares of W. P. Carey by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after buying an additional 7,549 shares during the last quarter. Finally, PGGM Investments lifted its holdings in W. P. Carey by 18.5% in the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after buying an additional 389,853 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on WPC. UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays increased their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. 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 report on Tuesday, October 1st. Finally, Scotiabank reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.88.

W. P. Carey Stock Performance

Shares of WPC stock opened at $56.02 on Tuesday. 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 Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The company’s 50 day moving average price is $58.36 and its two-hundred day moving average price is $58.17. The company has a market capitalization of $12.26 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. On average, analysts expect 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 was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. 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 dividend yield of 6.25%. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

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.