PFG Investments LLC Sells 293 Shares of W. P. Carey Inc. (NYSE:WPC)

PFG Investments LLC decreased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,427 shares of the real estate investment trust’s stock after selling 293 shares during the quarter. PFG Investments LLC’s holdings in W. P. Carey were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in W. P. Carey in the 4th quarter valued at approximately $157,107,000. HB Wealth Management LLC boosted its holdings 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 acquiring an additional 8,843 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in W. P. Carey by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after acquiring an additional 9,324 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in W. P. Carey by 5.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,566 shares of the real estate investment trust’s stock worth $426,000 after purchasing an additional 346 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in W. P. Carey by 9.8% in 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 purchasing an additional 9,619 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

W. P. Carey stock opened at $62.12 on Thursday. The stock’s 50 day moving average price is $58.51 and its two-hundred day moving average price is $57.07. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.14 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.40.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the previous year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. On average, equities analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mark A. Alexander acquired 3,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

WPC has been the subject of several recent research reports. UBS Group upped their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Evercore ISI boosted their price objective 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, August 28th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Finally, Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and an average target price of $60.00.

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.