Napa Wealth Management Grows Stock Position in W. P. Carey Inc. (NYSE:WPC)

Napa Wealth Management lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 19.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,716 shares of the real estate investment trust’s stock after buying an additional 778 shares during the quarter. Napa Wealth Management’s holdings in W. P. Carey were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of WPC. Massmutual Trust Co. FSB ADV raised its stake in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP raised its position in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new position in W. P. Carey in the second quarter worth $34,000. Finally, EdgeRock Capital LLC purchased a new position in W. P. Carey in the second quarter worth $39,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Evercore ISI increased their price objective on 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 reduced their price objective 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank cut their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $55.71 on Monday. The business’s fifty day moving average price is $59.52 and its two-hundred day moving average price is $58.23. The stock has a market cap of $12.19 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last announced its 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 company 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%. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 EPS. On average, 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 dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 137.80%.

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.