Sequoia Financial Advisors LLC Grows Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Sequoia Financial Advisors LLC increased its holdings in W. P. Carey Inc. (NYSE:WPC) by 82.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 146,900 shares of the real estate investment trust’s stock after acquiring an additional 66,577 shares during the period. Sequoia Financial Advisors LLC’s holdings in W. P. Carey were worth $9,152,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WPC. Venture Visionary Partners LLC acquired a new position in W. P. Carey during the third quarter worth $201,000. Brown Lisle Cummings Inc. lifted its stake in W. P. Carey by 2.5% during the third quarter. Brown Lisle Cummings Inc. now owns 47,106 shares of the real estate investment trust’s stock worth $2,935,000 after purchasing an additional 1,144 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 341 shares in the last quarter. Raymond James & Associates lifted its stake in W. P. Carey by 2.8% during the third quarter. Raymond James & Associates now owns 370,669 shares of the real estate investment trust’s stock worth $23,093,000 after purchasing an additional 10,152 shares in the last quarter. Finally, Capital Investment Advisors LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at $204,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on WPC. Barclays increased their price objective 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. UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note 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 on the stock in a research note on Wednesday, August 7th. Finally, Evercore ISI raised their price target 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. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Stock Performance

NYSE WPC opened at $59.05 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 52-week low of $51.60 and a 52-week high of $67.40. The business’s 50-day moving average price is $60.63 and its 200 day moving average price is $58.13. The firm has a market cap of $12.92 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last announced 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 analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS. On average, equities research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.93%. 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 (DPR) is presently 133.08%.

Insider Activity

In related news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.08% of the company’s stock.

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.