W. P. Carey Inc. (NYSE:WPC) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,220,175 shares of the real estate investment trust’s stock after selling 99,325 shares during the period. Commonwealth Equity Services LLC’s holdings in W. P. Carey were worth $67,171,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. First United Bank & Trust purchased a new position in W. P. Carey in the fourth quarter valued at $27,000. Richardson Financial Services Inc. acquired a new stake in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its position in W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of W. P. Carey during the first quarter worth about $28,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the subject of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Evercore ISI boosted their target price on shares of W. P. Carey from $61.00 to $63.00 and gave the stock an “in-line” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. UBS Group lifted their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. dropped their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.08% of the stock is currently owned by insiders.

W. P. Carey Stock Performance

WPC traded up $0.79 during trading on Friday, hitting $60.02. 1,110,000 shares of the stock were exchanged, compared to its average volume of 1,261,253. The firm has a market capitalization of $13.13 billion, a P/E ratio of 22.82, a PEG ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The stock has a fifty day moving average price of $57.55 and a two-hundred day moving average price of $56.81. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last released its quarterly 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). The business had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date was Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a dividend yield of 5.80%. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

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.