EP Wealth Advisors LLC Trims Position in W. P. Carey Inc. (NYSE:WPC)

EP Wealth Advisors LLC lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,220 shares of the real estate investment trust’s stock after selling 254 shares during the period. EP Wealth Advisors LLC’s holdings in W. P. Carey were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WPC. Richardson Financial Services Inc. purchased a new stake in shares of W. P. Carey in the 1st quarter worth about $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in 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 worth $26,000 after buying an additional 231 shares during the period. Allspring Global Investments Holdings LLC boosted its position in W. P. Carey by 1,510.0% during 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 acquiring an additional 453 shares in the last quarter. Riverview Trust Co purchased a new position in shares of W. P. Carey during the 1st quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of W. P. Carey in the 1st quarter worth approximately $30,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at W. P. Carey

In related news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.08% of the company’s stock.

W. P. Carey Trading Down 1.2 %

NYSE:WPC opened at $60.25 on Friday. 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 $13.18 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 1.18 and a beta of 0.94. The company’s 50 day moving average price is $60.11 and its 200-day moving average price is $57.78. 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 (NYSE:WPC) last posted its 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). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same period in the previous year, the business posted $1.36 EPS. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, 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 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 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WPC. UBS Group lifted their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada reduced their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. lowered 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 report on Friday, July 12th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.25.

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.