Cetera Investment Advisers Purchases 1,870 Shares of W. P. Carey Inc. (NYSE:WPC)

Cetera Investment Advisers grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 362,206 shares of the real estate investment trust’s stock after purchasing an additional 1,870 shares during the quarter. Cetera Investment Advisers owned approximately 0.17% of W. P. Carey worth $19,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in W. P. Carey during the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its stake in shares of 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 lifted its position 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 valued at $27,000 after buying 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 valued at about $28,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of W. P. Carey during the 1st quarter valued at approximately $30,000. Institutional investors own 73.73% of the company’s stock.

Insider Activity

In other news, Director Mark A. Alexander purchased 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The purchase 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.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WPC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday. Evercore ISI upped 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 report on Monday, September 16th. Royal Bank of Canada decreased their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. UBS Group upped their price objective 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. Finally, Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus price target of $61.25.

W. P. Carey Stock Down 0.1 %

Shares of NYSE WPC opened at $61.01 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The firm’s 50-day moving average price is $60.08 and its 200-day moving average price is $57.72. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.18 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (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 analysts’ expectations 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 for the quarter was down 13.9% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. On average, equities research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 5.74%. W. P. Carey’s payout ratio is 133.08%.

W. P. Carey Company 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.