Choreo LLC Makes New $418,000 Investment in W. P. Carey Inc. (NYSE:WPC)

Choreo LLC bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,634 shares of the real estate investment trust’s stock, valued at approximately $418,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wedbush Securities Inc. bought a new stake in W. P. Carey during the 2nd quarter worth approximately $209,000. Ashton Thomas Private Wealth LLC boosted its stake in shares of W. P. Carey by 14.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 20,492 shares of the real estate investment trust’s stock valued at $1,128,000 after purchasing an additional 2,552 shares during the last quarter. Quest Partners LLC boosted its stake in shares of W. P. Carey by 128,200.0% in the 2nd quarter. Quest Partners LLC now owns 12,830 shares of the real estate investment trust’s stock valued at $706,000 after purchasing an additional 12,820 shares during the last quarter. Adapt Wealth Advisors LLC bought a new stake in shares of W. P. Carey in the 2nd quarter valued at $218,000. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of W. P. Carey by 55.9% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 170,760 shares of the real estate investment trust’s stock valued at $9,400,000 after purchasing an additional 61,260 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WPC shares. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Royal Bank of Canada reduced 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 note on Thursday, August 1st. JPMorgan Chase & Co. cut 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. Wells Fargo & Company increased their target price on shares of W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Finally, UBS Group increased their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.30.

W. P. Carey Stock Performance

WPC opened at $63.95 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The company’s fifty day moving average price is $58.82 and its two-hundred day moving average price is $57.19. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The company has a market cap of $13.99 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.16 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last announced its 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). The firm had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. On average, analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

About W. P. Carey

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.