WealthPLAN Partners LLC Sells 2,689 Shares of W.P. Carey Inc. $WPC

WealthPLAN Partners LLC decreased its stake in W.P. Carey Inc. (NYSE:WPC) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,972 shares of the real estate investment trust’s stock after selling 2,689 shares during the period. WealthPLAN Partners LLC’s holdings in W.P. Carey were worth $435,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in WPC. GAMMA Investing LLC raised its position in W.P. Carey by 36.1% in the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 681 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in W.P. Carey by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 207,509 shares of the real estate investment trust’s stock worth $13,096,000 after acquiring an additional 6,000 shares during the period. Sagespring Wealth Partners LLC bought a new stake in W.P. Carey in the first quarter worth about $216,000. Insigneo Advisory Services LLC bought a new stake in W.P. Carey in the first quarter worth about $243,000. Finally, Kingswood Wealth Advisors LLC raised its position in W.P. Carey by 121.9% in the first quarter. Kingswood Wealth Advisors LLC now owns 21,434 shares of the real estate investment trust’s stock worth $1,351,000 after acquiring an additional 11,773 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. UBS Group boosted their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Scotiabank boosted their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.22.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $68.13 on Friday. The company has a 50 day moving average of $67.15 and a 200 day moving average of $63.82. The stock has a market cap of $14.92 billion, a P/E ratio of 44.82, a P/E/G ratio of 9.86 and a beta of 0.81. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.79. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. The company had revenue of $430.78 million during the quarter, compared to analysts’ expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, sell-side analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.91 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, September 30th. W.P. Carey’s dividend payout ratio is presently 239.47%.

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.