Applied Capital LLC FL Acquires New Position in W. P. Carey Inc. (NYSE:WPC)

Applied Capital LLC FL bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,191 shares of the real estate investment trust’s stock, valued at approximately $261,000.

Other hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in shares of W. P. Carey in the 1st quarter worth about $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 231 shares during the period. Allspring Global Investments Holdings LLC raised its stake in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the period. Riverview Trust Co acquired a new position in shares of W. P. Carey in the 1st quarter valued at $28,000. Finally, Quarry LP grew its stake in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at W. P. Carey

In related news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Royal Bank of Canada cut their price objective on 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 upped their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Stock Performance

WPC stock opened at $59.57 on Wednesday. The stock’s 50 day simple moving average is $60.33 and its 200 day simple moving average is $57.98. 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 cap of $13.03 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.11 and a beta of 0.94. 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 issued its 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). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same period last year, the company posted $1.36 earnings per share. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, equities research analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 5.88%. W. P. Carey’s dividend payout ratio (DPR) is 133.08%.

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.