33,977 Shares in W. P. Carey Inc. (NYSE:WPC) Purchased by Tredje AP fonden

Tredje AP fonden acquired a new position in W. P. Carey Inc. (NYSE:WPC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 33,977 shares of the real estate investment trust’s stock, valued at approximately $1,870,000.

Several other institutional investors have also added to or reduced their stakes in WPC. Richardson Financial Services Inc. purchased a new stake in shares of W. P. Carey during the first quarter valued at $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares during the period. Riverview Trust Co bought a new position in W. P. Carey in the 1st quarter worth about $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of W. P. Carey during the first quarter worth approximately $30,000. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WPC. Scotiabank dropped their price objective 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. Wells Fargo & Company increased their price target on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, UBS Group raised their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.30.

W. P. Carey Trading Down 1.3 %

NYSE:WPC opened at $62.32 on Friday. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.16 and a beta of 0.94. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $67.40. 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 firm has a 50 day moving average of $59.52 and a 200 day moving average of $57.41.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the prior year, the company posted $1.36 EPS. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.62%. W. P. Carey’s payout ratio is presently 132.32%.

Insider Activity

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

W. P. Carey 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.