Elo Mutual Pension Insurance Co Has $1.19 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Elo Mutual Pension Insurance Co grew its stake in W. P. Carey Inc. (NYSE:WPC) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,681 shares of the real estate investment trust’s stock after purchasing an additional 1,701 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in W. P. Carey were worth $1,194,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WPC. Gilbert & Cook Inc. lifted its stake in shares of W. P. Carey by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 314 shares during the period. Norges Bank bought a new stake in shares of W. P. Carey in the 4th quarter valued at $157,107,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of W. P. Carey by 5.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,566 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 346 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of W. P. Carey by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,999 shares of the real estate investment trust’s stock valued at $2,463,000 after buying an additional 2,104 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of W. P. Carey by 16.2% in the 4th quarter. Assetmark Inc. now owns 9,122 shares of the real estate investment trust’s stock valued at $591,000 after buying an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.3 %

W. P. Carey stock opened at $62.32 on Friday. The firm has a 50-day moving average of $59.52 and a 200-day moving average of $57.41. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.16 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the prior year, the company earned $1.36 earnings per share. The company’s quarterly revenue was down 13.9% on a year-over-year basis. On average, equities analysts expect that W. P. Carey Inc. will post 4.52 earnings per share 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. Stockholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.62%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, September 30th. W. P. Carey’s dividend payout ratio is currently 132.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price objective on shares of W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. UBS Group increased their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. One 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.30.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.08% of the stock is currently owned by company 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.