Envestnet Asset Management Inc. Has $36.80 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

Envestnet Asset Management Inc. trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 668,462 shares of the real estate investment trust’s stock after selling 1,701 shares during the period. Envestnet Asset Management Inc. owned about 0.31% of W. P. Carey worth $36,799,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Federated Hermes Inc. increased its stake in shares of W. P. Carey by 18.5% in the second quarter. Federated Hermes Inc. now owns 25,543 shares of the real estate investment trust’s stock valued at $1,406,000 after buying an additional 3,987 shares during the period. Equity Investment Corp raised its holdings in W. P. Carey by 38.9% during the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after purchasing an additional 412,450 shares during the last quarter. Main Street Financial Solutions LLC lifted its position in shares of W. P. Carey by 17.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,273 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 932 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of W. P. Carey in the 2nd quarter valued at $524,000. Finally, American Century Companies Inc. increased its position in shares of W. P. Carey by 8.1% during the second quarter. American Century Companies Inc. now owns 63,802 shares of the real estate investment trust’s stock worth $3,512,000 after buying an additional 4,766 shares during the period. 73.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.08% of the stock is currently owned by corporate insiders.

W. P. Carey Stock Performance

WPC opened at $62.32 on Friday. 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 $13.64 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.16 and a beta of 0.94. The company’s fifty day moving average price is $59.44 and its two-hundred day moving average price is $57.37. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its earnings results 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 business had revenue of $389.70 million during 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 company’s revenue 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.

W. P. Carey Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI upped their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Scotiabank reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group lifted their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.30.

W. P. Carey 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.