Handelsbanken Fonder AB Buys 21,400 Shares of W. P. Carey Inc. (NYSE:WPC)

Handelsbanken Fonder AB boosted its position in W. P. Carey Inc. (NYSE:WPC) by 48.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,200 shares of the real estate investment trust’s stock after purchasing an additional 21,400 shares during the period. Handelsbanken Fonder AB’s holdings in W. P. Carey were worth $4,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Seneca House Advisors grew its stake in shares of W. P. Carey by 0.7% during the 3rd quarter. Seneca House Advisors now owns 113,129 shares of the real estate investment trust’s stock worth $7,048,000 after acquiring an additional 836 shares during the period. SG Americas Securities LLC boosted its position in W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after purchasing an additional 46,181 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in W. P. Carey by 35.9% during 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. Sanctuary Advisors LLC purchased a new position in shares of W. P. Carey in the second quarter worth about $1,990,000. Finally, KPP Advisory Services LLC bought a new stake in shares of W. P. Carey in the second quarter valued at approximately $222,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Down 0.8 %

WPC stock opened at $59.61 on Wednesday. The company’s 50 day moving average is $60.07 and its 200 day moving average is $57.85. The stock has a market cap of $13.04 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.18 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 Inc. has a 1-year low of $51.60 and a 1-year high of $67.40.

W. P. Carey (NYSE:WPC) last issued 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 return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same period in the previous year, the company earned $1.36 EPS. W. P. Carey’s quarterly revenue was down 13.9% on a year-over-year basis. Sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.875 dividend. 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 dividend yield of 5.87%. The ex-dividend date is Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 133.08%.

Insider Activity

In other news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank decreased their price objective on 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. UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. decreased their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Evercore ISI raised their price objective 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. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, 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.