Royal Fund Management LLC Acquires 11,093 Shares of W. P. Carey Inc. (NYSE:WPC)

Royal Fund Management LLC increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 91.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,192 shares of the real estate investment trust’s stock after purchasing an additional 11,093 shares during the period. Royal Fund Management LLC’s holdings in W. P. Carey were worth $1,447,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in shares of W. P. Carey during the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $27,000 after purchasing an additional 453 shares during the period. Riverview Trust Co bought a new position in shares of W. P. Carey during the 1st quarter worth about $28,000. Finally, YHB Investment Advisors Inc. bought a new stake in W. P. Carey in the 1st quarter valued at about $30,000. 73.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price 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 in the company, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Scotiabank lowered 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 report on Wednesday, August 7th. UBS Group lifted their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. decreased their target price 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. Eight equities 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, the company has an average rating of “Hold” and a consensus target price of $61.25.

W. P. Carey Stock Up 0.2 %

NYSE:WPC traded up $0.11 on Wednesday, hitting $59.71. The stock had a trading volume of 29,997 shares, compared to its average volume of 1,221,876. W. P. Carey Inc. has a 1 year low of $51.60 and a 1 year high of $67.40. The firm’s fifty day simple moving average is $60.07 and its two-hundred day simple moving average is $57.85. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The stock has a market cap of $13.07 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94.

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). The business 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 business’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. Analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date is Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 133.08%.

About W. P. Carey

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.