Arkadios Wealth Advisors grew its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 49.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,483 shares of the real estate investment trust's stock after buying an additional 5,151 shares during the period. Arkadios Wealth Advisors' holdings in W. P. Carey were worth $852,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. acquired a new position in W. P. Carey during the fourth quarter worth $1,517,000. GAMMA Investing LLC purchased a new position in shares of W. P. Carey in the 4th quarter valued at about $63,000. Russell Investments Group Ltd. lifted its stake in shares of 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 purchasing an additional 175,347 shares during the period. Legacy Capital Wealth Partners LLC purchased a new stake in W. P. Carey during the fourth quarter worth about $217,000. Finally, Retirement Systems of Alabama purchased a new stake in W. P. Carey during the fourth quarter worth about $17,750,000. Institutional investors and hedge funds own 73.73% of the company's stock.
Wall Street Analyst Weigh In
WPC has been the subject of a number of research reports. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research report on Friday, June 21st. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. 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 research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an "overweight" rating on the stock in a research note on Friday, July 12th. Finally, UBS Group lifted their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $60.82.
Check Out Our Latest Stock Report on W. P. Carey
W. P. Carey Trading Up 1.3 %
W. P. Carey stock traded up $0.78 during trading on Friday, hitting $60.01. The company's stock had a trading volume of 1,109,993 shares, compared to its average volume of 1,261,253. The stock's fifty day moving average is $57.46 and its 200 day moving average is $56.79. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 22.69, a P/E/G 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.
W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million during the quarter, compared to analysts' expectations of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business's revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 earnings per share. As a group, equities research analysts predict that W. P. Carey Inc. will post 4.53 EPS for the current year.
W. P. Carey Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.87 dividend. The ex-dividend date of this dividend was Friday, June 28th. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 5.80%. W. P. Carey's dividend payout ratio is currently 132.32%.
Insider Buying and Selling at W. P. Carey
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. 1.08% of the stock is currently owned by insiders.
W. P. Carey Company Profile
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Free Report)
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.
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