Fortitude Family Office LLC Increases Holdings in W. P. Carey Inc. (NYSE:WPC)

Fortitude Family Office LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 962.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 680 shares of the real estate investment trust’s stock after purchasing an additional 616 shares during the quarter. Fortitude Family Office LLC’s holdings in W. P. Carey were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Equity Investment Corp purchased a new position in shares of W. P. Carey during the first quarter valued at $59,802,000. Massachusetts Financial Services Co. MA raised its holdings in shares of W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after purchasing an additional 444,785 shares during the period. International Assets Investment Management LLC lifted its position in shares of W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after purchasing an additional 400,782 shares during the period. Finally, PGGM Investments boosted its stake in shares of W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after purchasing an additional 389,853 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Evercore ISI lifted their target price on 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. Scotiabank decreased their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays lifted 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Performance

WPC opened at $56.72 on Wednesday. The company has a market cap of $12.41 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $60.65 and its 200-day moving average price is $58.19. W. P. Carey Inc. has a 52-week low of $51.60 and a 52-week high of $67.40.

W. P. Carey (NYSE:WPC) last issued its quarterly 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 net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the previous year, the company posted $1.36 EPS. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.17%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 133.08%.

Insider Buying and Selling

In other news, Director Mark A. Alexander purchased 3,500 shares of the company’s stock in a transaction on Friday, August 9th. The shares were acquired at an average price 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is currently owned by company 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.