W. P. Carey Inc. (NYSE:WPC) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC raised its position in shares of W. P. Carey Inc. (NYSE:WPC) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,492 shares of the real estate investment trust’s stock after buying an additional 2,552 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in W. P. Carey were worth $1,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. lifted its holdings in 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 worth $731,800,000 after buying an additional 5,407,289 shares in the last quarter. Norges Bank acquired a new stake in shares of W. P. Carey in the fourth quarter valued at $157,107,000. Equity Investment Corp purchased a new position in W. P. Carey in the first quarter valued at $59,802,000. Principal Financial Group Inc. grew its stake in 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 worth $52,005,000 after purchasing an additional 785,766 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in W. P. Carey by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after purchasing an additional 657,188 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WPC shares. Royal Bank of Canada lowered their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, UBS Group increased their target price on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus price target of $60.00.

W. P. Carey Stock Up 1.2 %

Shares of W. P. Carey stock opened at $62.37 on Wednesday. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $58.37 and a 200 day moving average price of $57.03.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same period last year, the business earned $1.36 EPS. The firm’s revenue was down 13.9% compared to the same quarter last year. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date was Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 132.32%.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.08% of the stock is owned by insiders.

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.