Meiji Yasuda Asset Management Co Ltd. Sells 879 Shares of W. P. Carey Inc. (NYSE:WPC)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,833 shares of the real estate investment trust’s stock after selling 879 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in W. P. Carey were worth $596,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its position in W. P. Carey by 8.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 100,505 shares of the real estate investment trust’s stock valued at $5,533,000 after purchasing an additional 8,048 shares during the period. Perennial Investment Advisors LLC increased its position in shares of W. P. Carey by 10.9% during the second quarter. Perennial Investment Advisors LLC now owns 7,556 shares of the real estate investment trust’s stock worth $416,000 after buying an additional 741 shares during the period. Moors & Cabot Inc. raised its stake in W. P. Carey by 1.2% during the second quarter. Moors & Cabot Inc. now owns 27,615 shares of the real estate investment trust’s stock worth $1,520,000 after buying an additional 323 shares during the last quarter. Excalibur Management Corp lifted its holdings in W. P. Carey by 2.9% in the second quarter. Excalibur Management Corp now owns 33,255 shares of the real estate investment trust’s stock valued at $1,831,000 after buying an additional 930 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in W. P. Carey by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after acquiring an additional 204,064 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WPC shares. UBS Group lifted their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company increased their price target on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced 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 research report on Friday, July 12th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Finally, Evercore ISI lifted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus price target of $60.30.

Insiders Place Their Bets

In other news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.08% of the company’s stock.

W. P. Carey Trading Down 1.3 %

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

W. P. Carey (NYSE:WPC) last issued 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 company had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same period in the prior year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. The ex-dividend date is Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 5.62%. 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.