Wealth Enhancement Advisory Services LLC Buys 98,706 Shares of W.P. Carey Inc. $WPC

Wealth Enhancement Advisory Services LLC lifted its stake in W.P. Carey Inc. (NYSE:WPC) by 46.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,200 shares of the real estate investment trust’s stock after purchasing an additional 98,706 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.14% of W.P. Carey worth $21,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in W.P. Carey in the 2nd quarter worth approximately $151,411,000. Captrust Financial Advisors raised its stake in shares of W.P. Carey by 2,712.0% in the second quarter. Captrust Financial Advisors now owns 771,534 shares of the real estate investment trust’s stock worth $48,128,000 after purchasing an additional 744,097 shares during the last quarter. GRS Advisors LLC purchased a new position in shares of W.P. Carey in the second quarter worth $37,694,000. First Trust Advisors LP lifted its holdings in shares of W.P. Carey by 422.2% during the second quarter. First Trust Advisors LP now owns 736,437 shares of the real estate investment trust’s stock valued at $45,939,000 after purchasing an additional 595,404 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of W.P. Carey by 165.6% during the second quarter. Balyasny Asset Management L.P. now owns 830,543 shares of the real estate investment trust’s stock valued at $51,809,000 after buying an additional 517,855 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $69.62 on Thursday. The company has a market capitalization of $15.26 billion, a P/E ratio of 42.20, a P/E/G ratio of 5.97 and a beta of 0.79. W.P. Carey Inc. has a 1-year low of $53.93 and a 1-year high of $70.28. The firm’s 50 day simple moving average is $66.31 and its two-hundred day simple moving average is $66.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.25.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. The company had revenue of $431.30 million during the quarter, compared to the consensus estimate of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. W.P. Carey’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Research analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 5.3%. The ex-dividend date was Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. W.P. Carey’s dividend payout ratio is currently 223.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore ISI lowered their target price on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Citigroup boosted their price target on W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Barclays set a $65.00 price target on shares of W.P. Carey in a research report on Tuesday, January 13th. Royal Bank Of Canada boosted their target price on shares of W.P. Carey from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, W.P. Carey presently has an average rating of “Hold” and a consensus price target of $68.70.

About W.P. Carey

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.