Illinois Municipal Retirement Fund Acquires 61,260 Shares of W. P. Carey Inc. (NYSE:WPC)

Illinois Municipal Retirement Fund grew its holdings in W. P. Carey Inc. (NYSE:WPC) by 55.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,760 shares of the real estate investment trust’s stock after purchasing an additional 61,260 shares during the period. Illinois Municipal Retirement Fund owned about 0.08% of W. P. Carey worth $9,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WPC. Richardson Financial Services Inc. purchased a new position in shares of W. P. Carey in the 1st quarter worth $26,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of W. P. Carey by 93.1% in the 2nd 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 last quarter. First United Bank & Trust purchased a new position in shares of W. P. Carey in the 4th quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of W. P. Carey in the 1st quarter worth $28,000. Institutional investors own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.08% of the company’s stock.

W. P. Carey Price Performance

NYSE:WPC opened at $61.48 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The business’s 50-day simple moving average is $58.08 and its two-hundred day simple moving average is $56.95. The stock has a market cap of $13.45 billion, a PE ratio of 23.38, a P/E/G ratio of 1.12 and a beta of 0.94. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $67.40.

W. P. Carey (NYSE:WPC) last posted 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 business had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey’s revenue was down 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. As a group, analysts forecast that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, June 28th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a yield of 5.66%. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WPC. Wells Fargo & Company raised their price target on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI lifted their target price on W. P. Carey from $61.00 to $63.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Finally, Royal Bank of Canada lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

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.