Assetmark Inc. Has $624,000 Stock Position in W. P. Carey Inc. (NYSE:WPC)

Assetmark Inc. grew its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.1% in the third quarter, Holdings Channel reports. The fund owned 10,013 shares of the real estate investment trust’s stock after acquiring an additional 304 shares during the quarter. Assetmark Inc.’s holdings in W. P. Carey were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. HB Wealth Management LLC boosted its stake in shares of W. P. Carey by 247.3% during the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after purchasing an additional 46,181 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 9,353 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of W. P. Carey by 2.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after purchasing an additional 9,324 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in W. P. Carey by 9.8% during the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after buying an additional 9,619 shares during the period. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $55.77 on Friday. The business’s 50-day simple moving average is $59.52 and its 200-day simple moving average is $58.19. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 EPS. As a group, equities research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is 137.80%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WPC. Barclays upped their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group lowered their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada cut their target price on shares of 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, Evercore ISI lifted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey 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.