Global Retirement Partners LLC Has $679,000 Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Global Retirement Partners LLC cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,899 shares of the real estate investment trust’s stock after selling 684 shares during the quarter. Global Retirement Partners LLC’s holdings in W. P. Carey were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its position in W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the period. Catalytic Wealth RIA LLC lifted its holdings in shares of W. P. Carey by 5.2% during the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 198 shares in the last quarter. Kowal Investment Group LLC lifted its holdings in shares of W. P. Carey by 3.4% during the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 199 shares in the last quarter. Creative Planning lifted its holdings in shares of W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after purchasing an additional 207 shares in the last quarter. Finally, HB Wealth Management LLC lifted its holdings in shares of W. P. Carey by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 208 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays boosted 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. Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. UBS Group boosted their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.25.

Insider Activity at W. P. Carey

In related news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The stock was purchased 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 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.08% of the stock is currently owned by corporate insiders.

W. P. Carey Stock Performance

NYSE:WPC opened at $60.01 on Monday. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month high of $67.40. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The stock has a market cap of $13.13 billion, a P/E ratio of 22.82, a PEG ratio of 1.11 and a beta of 0.94. The business’s 50-day moving average price is $60.52 and its two-hundred day moving average price is $58.05.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). The firm had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. As a group, equities analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared 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 is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend was Monday, September 30th. 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.