88,388 Shares in W. P. Carey Inc. (NYSE:WPC) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in W. P. Carey Inc. (NYSE:WPC) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 88,388 shares of the real estate investment trust’s stock, valued at approximately $4,866,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC grew its stake in W. P. Carey by 247.3% in the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 8,843 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after acquiring an additional 9,353 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in W. P. Carey by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after acquiring an additional 9,324 shares in the last quarter. QRG Capital Management Inc. boosted its position in W. P. Carey by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after acquiring an additional 9,619 shares in the last quarter. Finally, American International Group Inc. boosted its position in W. P. Carey by 16,416.8% during the 4th quarter. American International Group Inc. now owns 295,320 shares of the real estate investment trust’s stock valued at $19,140,000 after acquiring an additional 293,532 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WPC. Scotiabank dropped 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 report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company increased their target price on W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Evercore ISI increased their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.13.

Insider Buying and Selling

In other news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction that occurred on 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 purchase, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.08% of the stock is currently owned by company insiders.

W. P. Carey Stock Performance

Shares of WPC stock opened at $62.74 on Friday. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. 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 business has a fifty day moving average of $59.92 and a 200 day moving average of $57.60. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $67.40.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business’s revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. As a group, research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.875 dividend. 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 yield of 5.58%. W. P. Carey’s dividend payout ratio (DPR) is 133.08%.

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.