ProShare Advisors LLC Sells 352 Shares of W. P. Carey Inc. (NYSE:WPC)

ProShare Advisors LLC lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,320 shares of the real estate investment trust’s stock after selling 352 shares during the quarter. ProShare Advisors LLC’s holdings in W. P. Carey were worth $568,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kowal Investment Group LLC increased its position in W. P. Carey by 3.4% in the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 199 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in shares of W. P. Carey by 56.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 112,330 shares of the real estate investment trust’s stock worth $6,184,000 after acquiring an additional 40,710 shares during the period. Thrivent Financial for Lutherans increased its holdings in W. P. Carey by 33.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 94,838 shares of the real estate investment trust’s stock worth $5,221,000 after acquiring an additional 23,568 shares during the last quarter. AE Wealth Management LLC increased its holdings in W. P. Carey by 20.0% in the 2nd quarter. AE Wealth Management LLC now owns 9,778 shares of the real estate investment trust’s stock worth $538,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in W. P. Carey by 8.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 583,851 shares of the real estate investment trust’s stock valued at $32,141,000 after acquiring an additional 44,322 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In related news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $55.87 per share, with a total value of $195,545.00. Following the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut 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 research report on Friday, July 12th. Royal Bank of Canada cut 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. Scotiabank lowered their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.13.

W. P. Carey Trading Down 0.2 %

W. P. Carey stock opened at $62.74 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40. The stock has a market cap of $13.73 billion, a P/E ratio of 23.86, a PEG ratio of 1.18 and a beta of 0.94. The firm’s fifty day moving average price is $59.92 and its 200-day moving average price is $57.61.

W. P. Carey (NYSE:WPC) last announced 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 during 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 was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business 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 an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is currently 133.08%.

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.