J.W. Cole Advisors Inc. Sells 3,538 Shares of W. P. Carey Inc. (NYSE:WPC)

J.W. Cole Advisors Inc. decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 31.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,702 shares of the real estate investment trust’s stock after selling 3,538 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in W. P. Carey were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in W. P. Carey by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 314 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in W. P. Carey by 71.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,312 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 964 shares during the last quarter. Level Four Advisory Services LLC bought a new stake in W. P. Carey during the 4th quarter worth approximately $292,000. Securian Asset Management Inc. purchased a new stake in shares of W. P. Carey in the fourth quarter worth approximately $1,196,000. Finally, Norges Bank bought a new position in shares of W. P. Carey in the fourth quarter valued at approximately $157,107,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Down 1.1 %

Shares of NYSE WPC opened at $63.24 on Wednesday. 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 $13.84 billion, a PE ratio of 24.03, a P/E/G ratio of 1.16 and a beta of 0.94. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40. The business’s fifty day moving average price is $59.00 and its 200-day moving average price is $57.24.

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

Insider Buying and Selling at W. P. Carey

In related news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their target price 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. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Wells Fargo & Company increased 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 research note on Monday, August 26th. Finally, Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. One investment 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’s stock. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average price target of $60.30.

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.