Nisa Investment Advisors LLC Sells 13,624 Shares of W. P. Carey Inc. (NYSE:WPC)

Nisa Investment Advisors LLC cut its position in shares of W. P. Carey Inc. (NYSE:WPC) by 17.0% during the third quarter, HoldingsChannel.com reports. The firm owned 66,451 shares of the real estate investment trust’s stock after selling 13,624 shares during the period. Nisa Investment Advisors LLC’s holdings in W. P. Carey were worth $4,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. Richardson Financial Services Inc. lifted its position in shares of W. P. Carey by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 926 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 463 shares during the period. Graham Capital Wealth Management LLC bought a new position in shares of W. P. Carey during the third quarter valued at $3,173,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of W. P. Carey by 9.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 143,926 shares of the real estate investment trust’s stock valued at $8,933,000 after acquiring an additional 12,109 shares during the period. Modera Wealth Management LLC acquired a new stake in shares of W. P. Carey in the 3rd quarter valued at $223,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of W. P. Carey by 1.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 145,388 shares of the real estate investment trust’s stock worth $9,058,000 after purchasing an additional 1,983 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Down 1.1 %

Shares of WPC opened at $55.13 on Friday. The business’s fifty day moving average price is $60.54 and its two-hundred day moving average price is $58.16. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.05 and a beta of 0.94. W. P. Carey Inc. has a 52 week low of $53.01 and a 52 week high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.93 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the business earned $1.32 earnings per share. W. P. Carey’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given 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 dividend yield of 6.35%. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Evercore ISI increased their price target 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. Scotiabank dropped their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays boosted their price objective on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.25.

Insider Buying and Selling

In related news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.08% of the stock is owned by insiders.

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.