HB Wealth Management LLC Has $684,000 Stake in W. P. Carey Inc. (NYSE:WPC)

HB Wealth Management LLC lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 247.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,419 shares of the real estate investment trust's stock after purchasing an additional 8,843 shares during the quarter. HB Wealth Management LLC's holdings in W. P. Carey were worth $684,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC acquired a new position in W. P. Carey in the fourth quarter valued at $63,000. Russell Investments Group Ltd. boosted its holdings in W. P. Carey by 99.7% in the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust's stock valued at $22,810,000 after acquiring an additional 175,347 shares during the last quarter. Retirement Systems of Alabama acquired a new position in W. P. Carey in the fourth quarter valued at $17,750,000. Gilbert & Cook Inc. boosted its holdings in W. P. Carey by 5.5% in the fourth quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust's stock valued at $393,000 after acquiring an additional 314 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in W. P. Carey by 15.0% in the fourth quarter. Van ECK Associates Corp now owns 80,786 shares of the real estate investment trust's stock valued at $5,236,000 after acquiring an additional 10,561 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on WPC shares. Wells Fargo & Company lifted their target price on W. P. Carey from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. reduced their target price on W. P. Carey from $70.00 to $68.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Friday, June 21st. Evercore ISI raised their price objective on W. P. Carey from $61.00 to $63.00 and gave the company an "in-line" rating in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.82.

Insider Buying and Selling

In other news, Director Mark A. Alexander purchased 3,500 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares of the company's stock, valued at $2,129,987.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.08% of the company's stock.

W. P. Carey Stock Down 0.8 %

Shares of NYSE WPC traded down $0.50 during midday trading on Thursday, reaching $59.21. 563,370 shares of the company's stock were exchanged, compared to its average volume of 1,262,159. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.40. The stock has a market capitalization of $12.96 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.93. The business's fifty day moving average price is $57.39 and its two-hundred day moving average price is $56.78.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results 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). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to analysts' expectations of $381.39 million. During the same period in the previous year, the firm posted $1.36 earnings per share. The firm's revenue was down 13.9% compared to the same quarter last year. Analysts forecast that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 5.88%. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. W. P. Carey's dividend payout ratio (DPR) is 132.32%.

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.