Xponance Inc. Reduces Position in W. P. Carey Inc. (NYSE:WPC)

Xponance Inc. cut its stake in W. P. Carey Inc. (NYSE:WPC) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,433 shares of the real estate investment trust’s stock after selling 2,900 shares during the period. Xponance Inc.’s holdings in W. P. Carey were worth $1,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. bought a new position in W. P. Carey in the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of W. P. Carey by 1,510.0% during the second 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 last quarter. Riverview Trust Co acquired a new position in shares of W. P. Carey during the first quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. bought a new position in W. P. Carey in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

Shares of NYSE WPC opened at $62.84 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 1.18 and a beta of 0.94. The business has a fifty day simple moving average of $59.85 and a 200-day simple moving average of $57.57.

W. P. Carey (NYSE:WPC) last posted 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 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 analysts’ expectations of $381.39 million. During the same period last year, the company earned $1.36 earnings per share. W. P. Carey’s revenue for the quarter was down 13.9% compared to the same quarter last year. Sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 5.57%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, September 30th. W. P. Carey’s payout ratio is currently 133.08%.

Wall Street Analyst Weigh In

Several analysts have weighed in on WPC shares. JPMorgan Chase & Co. cut their target price on 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. Royal Bank of Canada reduced 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 report on Thursday, August 1st. 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 note on Thursday, July 18th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, 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 report on Monday, August 26th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.13.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought 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 approximately $2,129,987.88. The purchase 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 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.