Private Advisor Group LLC Sells 5,457 Shares of W. P. Carey Inc. (NYSE:WPC)

Private Advisor Group LLC trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 8.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 58,971 shares of the real estate investment trust’s stock after selling 5,457 shares during the quarter. Private Advisor Group LLC’s holdings in W. P. Carey were worth $3,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Foundry Partners LLC raised its stake in shares of W. P. Carey by 52.7% in the second quarter. Foundry Partners LLC now owns 243,375 shares of the real estate investment trust’s stock valued at $13,398,000 after purchasing an additional 83,977 shares in the last quarter. Jeppson Wealth Management LLC increased its holdings in W. P. Carey by 17.8% in the 2nd quarter. Jeppson Wealth Management LLC now owns 21,605 shares of the real estate investment trust’s stock valued at $1,189,000 after buying an additional 3,269 shares during the period. National Bank of Canada FI raised its stake in shares of W. P. Carey by 26,546.1% in the 2nd quarter. National Bank of Canada FI now owns 231,022 shares of the real estate investment trust’s stock valued at $12,621,000 after buying an additional 230,155 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its holdings in shares of W. P. Carey by 37.7% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 14,035 shares of the real estate investment trust’s stock worth $773,000 after acquiring an additional 3,840 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in W. P. Carey by 15.3% in the second quarter. Belpointe Asset Management LLC now owns 19,143 shares of the real estate investment trust’s stock valued at $1,054,000 after acquiring an additional 2,540 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.4 %

Shares of NYSE WPC opened at $62.12 on Thursday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The firm’s 50-day simple moving average is $58.51 and its 200 day simple moving average is $57.07.

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 company had revenue of $389.70 million for 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%. W. P. Carey’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share. On average, research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WPC shares. Evercore ISI lifted 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, August 28th. Scotiabank lowered 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. Wells Fargo & Company lifted their price objective 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. JPMorgan Chase & Co. lowered their target price 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. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.00.

Insider Buying and Selling at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.08% of the company’s stock.

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.