HB Wealth Management LLC Trims Stock Position in W.P. Carey Inc. $WPC

HB Wealth Management LLC lowered its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 38.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,028 shares of the real estate investment trust’s stock after selling 6,749 shares during the quarter. HB Wealth Management LLC’s holdings in W.P. Carey were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Avondale Wealth Management purchased a new stake in shares of W.P. Carey during the 2nd quarter valued at about $94,000. GC Wealth Management RIA LLC bought a new position in shares of W.P. Carey during the 2nd quarter valued at approximately $211,000. Hanson & Doremus Investment Management grew its stake in shares of W.P. Carey by 34.1% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,810 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 460 shares during the period. V Square Quantitative Management LLC bought a new position in shares of W.P. Carey during the 2nd quarter valued at approximately $40,000. Finally, Sonora Investment Management Group LLC grew its stake in shares of W.P. Carey by 2.7% during the 2nd quarter. Sonora Investment Management Group LLC now owns 182,822 shares of the real estate investment trust’s stock valued at $11,404,000 after acquiring an additional 4,817 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Saturday, September 27th. Evercore ISI boosted their price objective on W.P. Carey from $66.00 to $70.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. UBS Group boosted their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Finally, BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a “neutral” rating in a research note on Monday, June 9th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.22.

W.P. Carey Price Performance

WPC stock opened at $69.15 on Friday. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The company has a fifty day simple moving average of $66.66 and a two-hundred day simple moving average of $63.49. The firm has a market capitalization of $15.14 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 10.07 and a beta of 0.81.

W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same quarter last year, the business earned $1.17 earnings per share. W.P. Carey’s quarterly revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.91 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, September 30th. W.P. Carey’s dividend payout ratio is 239.47%.

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.