Massachusetts Financial Services Co. MA Increases Position in W. P. Carey Inc. (NYSE:WPC)

Massachusetts Financial Services Co. MA boosted its position in W. P. Carey Inc. (NYSE:WPC) by 22.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,240,705 shares of the real estate investment trust’s stock after acquiring an additional 588,636 shares during the period. Massachusetts Financial Services Co. MA’s holdings in W. P. Carey were worth $178,401,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Richardson Financial Services Inc. purchased a new stake in shares of W. P. Carey in the first quarter valued at $26,000. Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 worth $27,000 after acquiring an additional 453 shares during the period. Riverview Trust Co acquired a new stake in shares of W. P. Carey in the first quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. purchased a new stake in W. P. Carey in the first quarter valued at approximately $30,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Down 1.1 %

WPC stock opened at $63.24 on Wednesday. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $13.84 billion, a P/E ratio of 24.05, a PEG ratio of 1.16 and a beta of 0.94. The firm has a 50 day simple moving average of $59.00 and a 200-day simple moving average of $57.24.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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 company 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%. The company’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 earnings per share. On average, equities research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered 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. JPMorgan Chase & Co. cut their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, UBS Group boosted their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus target price of $60.30.

Insider Buying and Selling

In other news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

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.