Tyche Wealth Partners LLC Invests $203,000 in W. P. Carey Inc. (NYSE:WPC)

Tyche Wealth Partners LLC bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the third quarter, Holdings Channel.com reports. The fund bought 3,258 shares of the real estate investment trust’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. State of Michigan Retirement System increased its position in W. P. Carey by 2.3% during the first quarter. State of Michigan Retirement System now owns 53,700 shares of the real estate investment trust’s stock worth $3,031,000 after buying an additional 1,200 shares during the period. Norden Group LLC acquired a new position in shares of W. P. Carey in the 1st quarter valued at $277,000. Cornerstone Wealth Management LLC raised its position in W. P. Carey by 3.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 18,530 shares of the real estate investment trust’s stock valued at $1,046,000 after purchasing an additional 673 shares during the last quarter. Willis Johnson & Associates Inc. purchased a new stake in W. P. Carey in the 1st quarter valued at $229,000. Finally, Teamwork Financial Advisors LLC grew its position in W. P. Carey by 26.8% during the 1st quarter. Teamwork Financial Advisors LLC now owns 6,805 shares of the real estate investment trust’s stock worth $384,000 after purchasing an additional 1,438 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on WPC shares. UBS Group lifted their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. reduced their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Scotiabank lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $63.25.

Insider Activity

In other news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction that occurred 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 acquisition, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

W. P. Carey Trading Down 1.3 %

Shares of WPC stock opened at $56.72 on Wednesday. W. P. Carey Inc. has a 1-year low of $51.60 and a 1-year high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The business’s fifty day moving average price is $60.65 and its 200 day moving average price is $58.19. The firm has a market capitalization of $12.41 billion, a PE ratio of 21.57, a P/E/G ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last announced 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 during the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the prior year, the business earned $1.36 EPS. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. As a group, sell-side analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current fiscal 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 issued a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.17%. W. P. Carey’s dividend payout ratio (DPR) is 133.08%.

W. P. Carey Company 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.