Bahl & Gaynor Inc. Has $1.47 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Bahl & Gaynor Inc. reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,607 shares of the real estate investment trust’s stock after selling 2,516 shares during the quarter. Bahl & Gaynor Inc.’s holdings in W. P. Carey were worth $1,465,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WPC. LPL Financial LLC raised its position in shares of W. P. Carey by 6.0% during the second quarter. LPL Financial LLC now owns 767,971 shares of the real estate investment trust’s stock valued at $42,277,000 after buying an additional 43,264 shares during the last quarter. Andra AP fonden raised its holdings in W. P. Carey by 19.9% in the 2nd quarter. Andra AP fonden now owns 62,900 shares of the real estate investment trust’s stock valued at $3,463,000 after acquiring an additional 10,450 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of W. P. Carey by 6.8% in the 2nd quarter. Royal London Asset Management Ltd. now owns 112,189 shares of the real estate investment trust’s stock worth $6,176,000 after acquiring an additional 7,104 shares during the period. United Services Automobile Association grew its holdings in shares of W. P. Carey by 3.0% during the 2nd quarter. United Services Automobile Association now owns 17,046 shares of the real estate investment trust’s stock worth $938,000 after purchasing an additional 502 shares in the last quarter. Finally, Choreo LLC bought a new stake in shares of W. P. Carey during the second quarter valued at approximately $418,000. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on WPC shares. Royal Bank of Canada reduced their target price 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. Evercore ISI lifted their target price on shares of W. P. Carey from $61.00 to $63.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. 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 research note on Friday, July 12th. Scotiabank cut their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company upped their price objective on W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.00.

Insider Transactions at W. P. Carey

In related news, Director Mark A. Alexander purchased 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 completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.08% of the stock is owned by company insiders.

W. P. Carey Trading Up 0.1 %

WPC stock opened at $62.21 on Friday. 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 stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.14 and a beta of 0.94. The business has a fifty day moving average price of $58.66 and a 200 day moving average price of $57.10. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same period in the prior year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was down 13.9% compared to the same quarter last year. Analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

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.