W. P. Carey Inc. (NYSE:WPC) Holdings Trimmed by Clearview Wealth Advisors LLC

Clearview Wealth Advisors LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,695 shares of the real estate investment trust’s stock after selling 178 shares during the period. Clearview Wealth Advisors LLC’s holdings in W. P. Carey were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WPC. Cohen & Steers Inc. boosted its stake in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after buying an additional 5,407,289 shares during the period. Norges Bank acquired a new position in W. P. Carey in the 4th quarter worth about $157,107,000. Equity Investment Corp purchased a new stake in shares of W. P. Carey during the 1st quarter worth about $59,802,000. Principal Financial Group Inc. lifted its holdings in shares of W. P. Carey by 4,716.5% during the 4th quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after buying an additional 785,766 shares during the last quarter. Finally, Vanguard Group Inc. grew 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 in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Royal Bank of Canada lowered their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price target on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Evercore ISI increased their price objective on W. P. Carey from $61.00 to $63.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, Scotiabank reduced their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Insider Activity

In other news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is owned by corporate insiders.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $0.79 during trading on Friday, hitting $60.02. 1,110,000 shares of the company’s stock traded hands, compared to its average volume of 944,409. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market cap of $13.14 billion, a PE ratio of 22.82, a PEG ratio of 1.12 and a beta of 0.92. The firm’s fifty day moving average price is $57.55 and its 200 day moving average price is $56.82.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data 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 the consensus estimate 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 revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. Analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, June 28th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.80%. W. P. Carey’s dividend payout ratio (DPR) is presently 132.32%.

About W. P. Carey

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.