CacheTech Inc. Decreases Holdings in W. P. Carey Inc. (NYSE:WPC)

CacheTech Inc. decreased its stake in W. P. Carey Inc. (NYSE:WPC) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,745 shares of the real estate investment trust’s stock after selling 566 shares during the quarter. CacheTech Inc.’s holdings in W. P. Carey were worth $545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norden Group LLC purchased a new stake in W. P. Carey during the 1st quarter worth approximately $277,000. Ashton Thomas Private Wealth LLC increased its position in shares of W. P. Carey by 32.8% during the first quarter. Ashton Thomas Private Wealth LLC now owns 17,940 shares of the real estate investment trust’s stock worth $1,013,000 after purchasing an additional 4,433 shares in the last quarter. Van ECK Associates Corp raised its stake in W. P. Carey by 12.7% in the 1st quarter. Van ECK Associates Corp now owns 91,076 shares of the real estate investment trust’s stock valued at $5,140,000 after purchasing an additional 10,290 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in W. P. Carey in the 1st quarter valued at $277,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 purchasing an additional 554 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 1.1 %

Shares of NYSE WPC opened at $55.13 on Friday. W. P. Carey Inc. has a 1 year low of $53.01 and a 1 year high of $67.40. The company has a market capitalization of $12.06 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.05 and a beta of 0.94. The company has a 50 day simple moving average of $60.54 and a 200-day simple moving average of $58.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.93.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same quarter in the prior year, the firm earned $1.32 EPS. W. P. Carey’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities research 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. 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 6.35%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is presently 137.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WPC shares. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada cut their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.25.

Insiders Place Their Bets

In related news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.08% of the stock is currently owned by insiders.

W. P. Carey 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.