Amalgamated Bank Reduces Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank lowered its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 14.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 104,201 shares of the real estate investment trust’s stock after selling 17,416 shares during the quarter. Amalgamated Bank’s holdings in W. P. Carey were worth $6,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its position 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 buying an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 purchasing an additional 453 shares during the period. Quarry LP lifted its stake in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares in the last quarter. Lynx Investment Advisory bought a new position in W. P. Carey in the 2nd quarter worth $34,000. Finally, Abich Financial Wealth Management LLC raised its holdings in W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 641 shares during the period. Institutional investors own 73.73% of the company’s stock.

Insider Activity

In related news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the acquisition, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Scotiabank cut their price objective on shares of 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. JPMorgan Chase & Co. lowered their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Barclays raised their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Evercore ISI boosted their price target 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, September 16th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.25.

W. P. Carey Trading Down 0.7 %

Shares of WPC opened at $55.40 on Thursday. The stock has a market capitalization of $12.12 billion, a PE ratio of 21.81, a P/E/G ratio of 1.03 and a beta of 0.95. The company’s fifty day moving average is $60.18 and its 200 day moving average is $58.22. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a fifty-two week low of $53.01 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter last year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was down 11.9% on a year-over-year basis. Sell-side analysts expect 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. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.32%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

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.