W. P. Carey Inc. (NYSE:WPC) Stock Position Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in W. P. Carey Inc. (NYSE:WPC) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,700 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in W. P. Carey were worth $3,782,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC raised its holdings in shares of W. P. Carey by 9.1% during the 1st quarter. Cornerstone Wealth Group LLC now owns 5,174 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 431 shares in the last quarter. LVW Advisors LLC lifted its position in shares of W. P. Carey by 149.6% in the first quarter. LVW Advisors LLC now owns 9,747 shares of the real estate investment trust’s stock worth $550,000 after buying an additional 5,842 shares during the last quarter. Kowal Investment Group LLC boosted its stake in shares of W. P. Carey by 44.2% during the 1st quarter. Kowal Investment Group LLC now owns 5,871 shares of the real estate investment trust’s stock worth $331,000 after acquiring an additional 1,800 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of W. P. Carey by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 53,700 shares of the real estate investment trust’s stock valued at $3,031,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Naviter Wealth LLC raised its stake in shares of W. P. Carey by 17.4% in the 1st quarter. Naviter Wealth LLC now owns 18,116 shares of the real estate investment trust’s stock valued at $1,038,000 after acquiring an additional 2,691 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Down 2.2 %

Shares of WPC opened at $57.28 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The company has a 50-day simple moving average of $60.71 and a 200-day simple moving average of $58.15. W. P. Carey Inc. has a 52 week low of $51.60 and a 52 week high of $67.40. The firm has a market capitalization of $12.53 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.11 and a beta of 0.94.

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 the consensus estimate 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 firm had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same period last year, the company earned $1.36 EPS. The company’s revenue was down 13.9% on a year-over-year basis. On average, equities research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.11%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 133.08%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI upped their target price on 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. 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 research note on Friday, July 12th. Scotiabank dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Barclays upped their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey has an average rating of “Hold” and an average price target of $63.25.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $55.87 per share, with a total value 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

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.