Farther Finance Advisors LLC Acquires 838 Shares of W. P. Carey Inc. (NYSE:WPC)

Farther Finance Advisors LLC increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 122.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,520 shares of the real estate investment trust’s stock after buying an additional 838 shares during the quarter. Farther Finance Advisors LLC’s holdings in W. P. Carey were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WPC. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of W. P. Carey by 4.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,831 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 554 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in W. P. Carey by 9.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,159 shares of the real estate investment trust’s stock valued at $799,000 after purchasing an additional 1,275 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in W. P. Carey by 6.1% in the first quarter. Oppenheimer & Co. Inc. now owns 10,347 shares of the real estate investment trust’s stock valued at $584,000 after purchasing an additional 592 shares during the last quarter. Atomi Financial Group Inc. bought a new position in W. P. Carey in the first quarter valued at about $240,000. Finally, US Bancorp DE raised its position in W. P. Carey by 0.7% in the first quarter. US Bancorp DE now owns 35,203 shares of the real estate investment trust’s stock valued at $1,987,000 after purchasing an additional 244 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $55.72 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $59.96 and its 200 day simple moving average is $58.23. W. P. Carey Inc. has a 12 month low of $53.01 and a 12 month high of $67.40. The firm has a market capitalization of $12.19 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the prior year, the business earned $1.32 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is presently 137.80%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WPC shares. UBS Group increased 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. Barclays increased their price target 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. Evercore ISI increased their price target on 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. Scotiabank decreased 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. Finally, 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 note on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $63.25.

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.