15,875 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new stake in W. P. Carey Inc. (NYSE:WPC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,875 shares of the real estate investment trust’s stock, valued at approximately $874,000.

Other institutional investors also recently bought and sold shares of the company. Employees Retirement System of Texas acquired a new position in W. P. Carey during the 2nd quarter worth approximately $2,863,000. APG Asset Management N.V. lifted its holdings in W. P. Carey by 185.1% in the second quarter. APG Asset Management N.V. now owns 26,647 shares of the real estate investment trust’s stock valued at $1,369,000 after acquiring an additional 17,300 shares during the period. AXA S.A. boosted its position in shares of W. P. Carey by 84.0% during the 2nd quarter. AXA S.A. now owns 104,572 shares of the real estate investment trust’s stock worth $5,757,000 after purchasing an additional 47,744 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of W. P. Carey during the 2nd quarter worth $421,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of W. P. Carey in the second quarter valued at about $4,866,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. JPMorgan Chase & Co. dropped their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Evercore ISI boosted their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada dropped their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.25.

Insider Activity

In other news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the acquisition, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.08% of the company’s stock.

W. P. Carey Trading Down 1.6 %

W. P. Carey stock opened at $61.32 on Wednesday. The stock has a 50-day moving average price of $59.98 and a 200 day moving average price of $57.66. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $67.40. The stock has a market cap of $13.42 billion, a PE ratio of 23.32, a P/E/G ratio of 1.18 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million for 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 quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. Equities research analysts predict 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 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. This represents a $3.50 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 133.08%.

About W. P. Carey

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.