W. P. Carey Inc. (NYSE:WPC) Position Reduced by Forsta AP Fonden

Forsta AP Fonden trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 11.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,600 shares of the real estate investment trust’s stock after selling 10,100 shares during the quarter. Forsta AP Fonden’s holdings in W. P. Carey were worth $4,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of W. P. Carey in the fourth quarter worth approximately $157,107,000. HB Wealth Management LLC lifted its position in shares of W. P. Carey by 247.3% in the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 8,843 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of W. P. Carey by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after purchasing an additional 9,324 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of W. P. Carey by 5.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,566 shares of the real estate investment trust’s stock worth $426,000 after purchasing an additional 346 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after purchasing an additional 9,619 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WPC shares. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. UBS Group raised their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI raised their price objective on shares of W. P. Carey from $61.00 to $63.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada cut their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.00.

W. P. Carey Trading Up 1.7 %

Shares of WPC stock opened at $63.28 on Friday. The business’s 50 day moving average is $58.82 and its two-hundred day moving average is $57.18. The company has a market cap of $13.85 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The company has a quick ratio of 1.93, a current 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.

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

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction on Friday, August 9th. The stock was 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 $2,129,987.88. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.08% of the company’s stock.

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.