King Wealth Management Group Invests $218,000 in W. P. Carey Inc. (NYSE:WPC)

King Wealth Management Group bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the third quarter, Holdings Channel.com reports. The fund bought 3,495 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV raised its holdings 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 valued at $41,000 after acquiring an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC boosted its stake in W. P. Carey by 5.2% during 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 increased its holdings in W. P. Carey by 3.4% in the 2nd 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 period. Harbour Investments Inc. lifted its holdings in shares of W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 203 shares during the period. Finally, Creative Planning lifted its holdings in shares of W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 207 shares during the period. 73.73% of the stock is owned by institutional investors.

W. P. Carey Trading Down 1.0 %

NYSE WPC opened at $54.84 on Friday. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average is $59.63 and its 200 day moving average is $58.19.

W. P. Carey (NYSE:WPC) last announced its quarterly 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). The firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.32 earnings per share. As a group, sell-side analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.38%. W. P. Carey’s payout ratio is currently 137.80%.

Analysts Set New Price Targets

WPC has been the subject of several recent research reports. Evercore ISI increased their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada dropped 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. Scotiabank decreased their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, 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 research report 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 data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average price target of $62.88.

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.