W. P. Carey Inc. (NYSE:WPC) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its holdings in W. P. Carey Inc. (NYSE:WPC) by 18.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,852 shares of the real estate investment trust’s stock after selling 5,975 shares during the quarter. Inspire Investing LLC’s holdings in W. P. Carey were worth $1,423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Catalytic Wealth RIA LLC increased its stake in shares of W. P. Carey by 5.2% in the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 198 shares during the period. HB Wealth Management LLC increased its stake in shares of W. P. Carey by 6.2% in the first quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 208 shares during the period. Fisher Asset Management LLC increased its stake in shares of W. P. Carey by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 209 shares during the period. Cooper Financial Group increased its stake in shares of W. P. Carey by 2.1% in the second quarter. Cooper Financial Group now owns 10,881 shares of the real estate investment trust’s stock worth $599,000 after acquiring an additional 224 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of a number of research reports. 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 note on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Evercore ISI lifted their price target on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday. Finally, UBS Group upped their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.30.

W. P. Carey Stock Performance

NYSE:WPC opened at $63.12 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 fifty day moving average of $59.33 and a two-hundred day moving average of $57.33. The stock has a market capitalization of $13.81 billion, a PE ratio of 24.00, a P/E/G ratio of 1.16 and a beta of 0.94. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business’s revenue was down 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. As a group, research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now directly 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 can be accessed through this hyperlink. 1.08% of the stock is currently owned by company insiders.

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.