W. P. Carey Inc. (NYSE:WPC) Holdings Boosted by Seneca House Advisors

Seneca House Advisors boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,129 shares of the real estate investment trust’s stock after buying an additional 836 shares during the quarter. W. P. Carey makes up about 3.0% of Seneca House Advisors’ holdings, making the stock its 14th biggest position. Seneca House Advisors owned approximately 0.05% of W. P. Carey worth $7,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. HB Wealth Management LLC boosted its stake in 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 valued at $684,000 after purchasing an additional 8,843 shares during the period. EverSource Wealth Advisors LLC increased its position in W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co raised its stake 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 valued at $25,749,000 after purchasing an additional 9,324 shares during the last quarter. QRG Capital Management Inc. grew its position in W. P. Carey by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after purchasing an additional 9,619 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of W. P. Carey by 16,416.8% during the 4th quarter. American International Group Inc. now owns 295,320 shares of the real estate investment trust’s stock worth $19,140,000 after purchasing an additional 293,532 shares during the period. Institutional investors own 73.73% of the company’s stock.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the 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 acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.08% of the stock is currently owned by company insiders.

W. P. Carey Trading Down 1.2 %

Shares of NYSE:WPC traded down $0.75 during midday trading on Friday, hitting $60.25. The company had a trading volume of 1,116,172 shares, compared to its average volume of 1,230,979. 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 Inc. has a 12 month low of $51.36 and a 12 month high of $67.40. The firm has a fifty day simple moving average of $60.11 and a 200 day simple moving average of $57.78. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 1.18 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last announced 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). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same period last year, the company earned $1.36 earnings per share. The business’s revenue was down 13.9% compared to the same quarter last year. On average, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.875 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.81%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 133.08%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Scotiabank cut their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. UBS Group upped their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Evercore ISI increased 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 note on Monday, September 16th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.25.

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.