33,977 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by Tredje AP fonden

Tredje AP fonden bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,977 shares of the real estate investment trust’s stock, valued at approximately $1,870,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. boosted its stake in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after acquiring an additional 5,407,289 shares during the last quarter. Norges Bank purchased a new position in W. P. Carey during the fourth quarter valued at $157,107,000. Equity Investment Corp purchased a new position in W. P. Carey during the first quarter valued at $59,802,000. Vanguard Group Inc. grew its holdings in W. P. Carey by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after purchasing an additional 657,188 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after buying an additional 588,636 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPC has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut 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. Royal Bank of Canada dropped their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Evercore ISI upped their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $60.30.

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $55.87 per share, with a total value of $195,545.00. Following the acquisition, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.08% of the company’s stock.

W. P. Carey Trading Down 1.3 %

Shares of WPC stock opened at $62.32 on Friday. 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 stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The stock’s 50-day moving average price is $59.52 and its 200-day moving average price is $57.41.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. Equities research analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 5.62%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 132.32%.

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.