Richardson Financial Services Inc. Buys 463 Shares of W. P. Carey Inc. (NYSE:WPC)

Richardson Financial Services Inc. raised its stake in W. P. Carey Inc. (NYSE:WPC) by 100.0% during the third quarter, HoldingsChannel reports. The fund owned 926 shares of the real estate investment trust’s stock after buying an additional 463 shares during the period. Richardson Financial Services Inc.’s holdings in W. P. Carey were worth $54,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its stake in W. P. Carey by 35.9% in the 3rd 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 in the last quarter. Catalytic Wealth RIA LLC lifted its stake in shares of W. P. Carey by 5.2% in the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 198 shares in the last quarter. Kowal Investment Group LLC grew its holdings in shares of W. P. Carey by 3.4% during the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 199 shares during the last quarter. Creative Planning increased its position in shares of W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after acquiring an additional 207 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in W. P. Carey by 6.2% in the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 208 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on WPC. Scotiabank reduced their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company reiterated 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. Evercore ISI upped their target price on shares of 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. UBS Group lifted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Stock Performance

Shares of WPC traded down $1.27 on Friday, reaching $57.28. The company’s stock had a trading volume of 975,363 shares, compared to its average volume of 1,208,532. W. P. Carey Inc. has a 12-month low of $51.60 and a 12-month high of $67.40. The stock has a market capitalization of $12.53 billion, a P/E ratio of 21.78, a PEG ratio of 1.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The stock’s 50 day simple moving average is $60.71 and its two-hundred day simple moving average is $58.15.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (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 net margin of 34.83% and a return on equity of 6.50%. The company’s revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.11%. W. P. Carey’s dividend payout ratio is presently 133.08%.

Insider Transactions at W. P. Carey

In related news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.08% of the company’s stock.

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.