Geneos Wealth Management Inc. Cuts Stock Position in W.P. Carey Inc. $WPC

Geneos Wealth Management Inc. cut its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 283,065 shares of the real estate investment trust’s stock after selling 8,763 shares during the quarter. Geneos Wealth Management Inc.’s holdings in W.P. Carey were worth $19,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in W.P. Carey during the 2nd quarter worth $151,411,000. Captrust Financial Advisors raised its holdings in W.P. Carey by 2,712.0% during 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 in the last quarter. GRS Advisors LLC acquired a new stake in W.P. Carey in the second quarter valued at about $37,694,000. First Trust Advisors LP boosted its holdings in W.P. Carey by 422.2% in the 2nd 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. increased its position in W.P. Carey by 165.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 830,543 shares of the real estate investment trust’s stock worth $51,809,000 after purchasing an additional 517,855 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on WPC. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, October 8th. Barclays raised their target price on W.P. Carey from $66.00 to $67.00 and gave the company an “underweight” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $69.00 price target on shares of W.P. Carey in a research note on Monday, December 8th. Evercore ISI cut their price target on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Finally, Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.50.

W.P. Carey Trading Down 1.2%

NYSE:WPC opened at $64.08 on Tuesday. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $65.97 and a 200-day simple moving average of $65.84. The company has a market capitalization of $14.04 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 5.88 and a beta of 0.79.

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

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. W.P. Carey’s dividend payout ratio is currently 223.03%.

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.