NBC Securities Inc. Sells 1,705 Shares of W. P. Carey Inc. (NYSE:WPC)

NBC Securities Inc. lowered its stake in W. P. Carey Inc. (NYSE:WPCFree Report) by 18.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,586 shares of the real estate investment trust’s stock after selling 1,705 shares during the period. NBC Securities Inc.’s holdings in W. P. Carey were worth $472,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning raised its position in shares of W. P. Carey by 0.3% in the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after buying an additional 207 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its position in W. P. Carey by 7.3% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 9,615 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 650 shares in the last quarter. Carnegie Investment Counsel lifted its stake in W. P. Carey by 20.5% during the third quarter. Carnegie Investment Counsel now owns 173,837 shares of the real estate investment trust’s stock worth $10,830,000 after purchasing an additional 29,527 shares during the last quarter. Avondale Wealth Management acquired a new stake in shares of W. P. Carey in the 3rd quarter valued at $62,000. Finally, Gateway Investment Advisers LLC increased its stake in shares of W. P. Carey by 16.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 81,658 shares of the real estate investment trust’s stock valued at $5,087,000 after purchasing an additional 11,561 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on WPC. JPMorgan Chase & Co. reduced their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Barclays lifted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Evercore ISI increased their price objective on shares of 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. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.25.

Read Our Latest Stock Report on WPC

Insider Buying and Selling

In other news, Director Mark A. Alexander purchased 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were acquired at an average price of $55.87 per share, with a total value 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 trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.08% of the stock is owned by insiders.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $59.31 on Friday. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 1.11 and a beta of 0.94. 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 twelve month low of $51.60 and a twelve month high of $67.40. The company’s fifty day moving average is $60.45 and its 200 day moving average is $58.00.

W. P. Carey (NYSE:WPCGet Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.47). The company 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%. The company’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. Sell-side analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 5.90%. W. P. Carey’s dividend payout ratio is 133.08%.

W. P. Carey Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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