Dimensional Fund Advisors LP Buys 204,064 Shares of W. P. Carey Inc. (NYSE:WPC)

Dimensional Fund Advisors LP grew its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,152,879 shares of the real estate investment trust’s stock after purchasing an additional 204,064 shares during the period. Dimensional Fund Advisors LP owned approximately 1.44% of W. P. Carey worth $173,570,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in W. P. Carey during the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV boosted its stake in W. P. Carey by 93.1% during 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares in the last quarter. Riverview Trust Co bought a new stake in W. P. Carey during the first quarter worth about $28,000. Finally, YHB Investment Advisors Inc. bought a new stake in W. P. Carey during the first quarter worth about $30,000. Institutional investors own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WPC shares. Royal Bank of Canada dropped 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. UBS Group upped 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. JPMorgan Chase & Co. dropped 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. 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 research note on Monday, September 16th. Finally, Scotiabank dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.30.

W. P. Carey Stock Down 1.3 %

WPC opened at $62.32 on Friday. 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 firm has a 50 day moving average price of $59.44 and a 200-day moving average price of $57.37. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.16 and a beta of 0.94.

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 for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same period in the previous year, the firm earned $1.36 earnings per share. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

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

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.