Amalgamated Bank Purchases 2,370 Shares of W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 2.0% in the second quarter, HoldingsChannel reports. The firm owned 121,617 shares of the real estate investment trust’s stock after buying an additional 2,370 shares during the period. Amalgamated Bank’s holdings in W. P. Carey were worth $6,695,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WPC. Cohen & Steers Inc. lifted its position in shares of W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after buying an additional 5,407,289 shares during the last quarter. Norges Bank acquired a new stake in W. P. Carey during the 4th quarter valued at $157,107,000. Equity Investment Corp bought a new position in W. P. Carey during the first quarter worth $59,802,000. Vanguard Group Inc. increased its holdings in shares of W. P. Carey by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after purchasing an additional 657,188 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $63.12 on Friday. The business has a fifty day moving average price of $59.33 and a two-hundred day moving average price of $57.33. The stock has a market capitalization of $13.81 billion, a PE ratio of 24.00, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two 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). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same period last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. As a group, equities analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research reports. Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday. Royal Bank of Canada reduced their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. 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, Wells Fargo & Company upped their price objective on W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.30.

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.