W. P. Carey Inc. (NYSE:WPC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 12.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 147,842 shares of the real estate investment trust’s stock after selling 21,691 shares during the quarter. State of Alaska Department of Revenue’s holdings in W. P. Carey were worth $9,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Richardson Financial Services Inc. purchased a new stake in shares of W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 93.1% in 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 purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of W. P. Carey by 1,510.0% in 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 last quarter. Quarry LP lifted its holdings in shares of W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of W. P. Carey in the 2nd quarter valued at about $34,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Down 2.2 %

WPC opened at $57.28 on Monday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average price of $60.71 and a two-hundred day moving average price of $58.17. W. P. Carey Inc. has a 52 week low of $51.60 and a 52 week high of $67.40. The company has a market cap of $12.53 billion, a PE ratio of 21.78, a P/E/G ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the previous year, the firm posted $1.36 EPS. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were 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 was Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 6.11%. W. P. Carey’s payout ratio is presently 133.08%.

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction 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 transaction, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

WPC has been the subject of several research reports. Scotiabank reduced their target price 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. UBS Group boosted their target price on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.