W. P. Carey Inc. (NYSE:WPC) Shares Sold by Austin Private Wealth LLC

Austin Private Wealth LLC reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 13.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,042 shares of the real estate investment trust’s stock after selling 1,124 shares during the period. Austin Private Wealth LLC’s holdings in W. P. Carey were worth $439,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in W. P. Carey by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after acquiring an additional 187,022 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of W. P. Carey by 22.2% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of W. P. Carey by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after purchasing an additional 7,549 shares during the period. Finally, PGGM Investments grew its position in W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after buying an additional 389,853 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded down $0.10 during trading hours on Tuesday, reaching $55.24. 123,216 shares of the company’s stock were exchanged, compared to its average volume of 1,210,829. The business has a fifty day moving average of $60.35 and a two-hundred day moving average of $58.24. The company has a market capitalization of $12.09 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 1 year low of $53.01 and a 1 year high of $67.40.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the prior year, the company posted $1.32 EPS. The firm’s revenue was down 11.9% on a year-over-year basis. As a group, research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.34%. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

Insiders Place Their Bets

In related news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on WPC shares. Evercore ISI upped their price objective on shares of 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. Royal Bank of Canada reduced their price target 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. cut their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. UBS Group upped their target price 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, Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $63.25.

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.