Armstrong Fleming & Moore Inc Sells 3,325 Shares of W. P. Carey Inc. (NYSE:WPC)

Armstrong Fleming & Moore Inc reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,823 shares of the real estate investment trust’s stock after selling 3,325 shares during the quarter. W. P. Carey accounts for 1.9% of Armstrong Fleming & Moore Inc’s portfolio, making the stock its 9th largest position. Armstrong Fleming & Moore Inc’s holdings in W. P. Carey were worth $3,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in WPC. Equity Investment Corp bought a new stake in W. P. Carey during the 1st quarter worth approximately $59,802,000. Vanguard Group Inc. increased its stake in shares of W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after buying an additional 657,188 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after buying an additional 588,636 shares during the period. Hsbc Holdings PLC increased its position in W. P. Carey by 185.7% in the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after purchasing an additional 444,785 shares during the period. Finally, PGGM Investments raised its holdings in W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WPC shares. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Barclays lifted 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 note on Thursday, October 10th. Evercore ISI lifted their price target on shares of 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. decreased their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Down 1.3 %

W. P. Carey stock traded down $0.75 during midday trading on Thursday, reaching $59.17. The stock had a trading volume of 157,085 shares, compared to its average volume of 1,214,888. W. P. Carey Inc. has a 1-year low of $51.60 and a 1-year 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 firm’s fifty day simple moving average is $60.40 and its 200-day simple moving average is $58.00. The stock has a market capitalization of $12.95 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate 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 business had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the previous year, the company posted $1.36 EPS. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. As a group, analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal 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 paid a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 5.92%. W. P. Carey’s payout ratio is currently 133.08%.

W. P. Carey Company 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.