Founders Financial Alliance LLC Sells 246 Shares of W. P. Carey Inc. (NYSE:WPC)

Founders Financial Alliance LLC trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,727 shares of the real estate investment trust’s stock after selling 246 shares during the quarter. Founders Financial Alliance LLC’s holdings in W. P. Carey were worth $866,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Richardson Financial Services Inc. acquired a new position in shares of W. P. Carey during the 1st quarter worth about $26,000. Massmutual Trust Co. FSB ADV lifted its stake in W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of W. P. Carey in the 1st quarter valued at approximately $28,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of W. P. Carey in the 1st quarter valued at approximately $30,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Down 0.7 %

WPC opened at $62.31 on Tuesday. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The company has a market capitalization of $13.63 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.18 and a beta of 0.94. The stock has a fifty day moving average of $59.98 and a 200-day moving average of $57.66.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same period in the prior year, the business posted $1.36 EPS. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. On average, equities analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.875 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.62%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

Insider Buying and Selling

In related news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Scotiabank cut their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. 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 report on Monday, September 16th. Royal Bank of Canada cut their price target 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.13.

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.