W. P. Carey Inc. (NYSE:WPC) Position Increased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 23.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,911 shares of the real estate investment trust’s stock after buying an additional 5,755 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in W. P. Carey were worth $1,647,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WPC. Vanguard Group Inc. boosted its holdings in shares of W. P. Carey by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after acquiring an additional 187,022 shares during the period. Cohen & Steers Inc. boosted its stake in 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 valued at $731,800,000 after purchasing an additional 5,407,289 shares during the period. Massachusetts Financial Services Co. MA grew its position in W. P. Carey by 22.2% in the 2nd 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 purchasing an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of W. P. Carey by 6.9% in 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 purchasing an additional 204,064 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of W. P. Carey by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after buying an additional 7,549 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at W. P. Carey

In related news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on WPC. UBS Group raised their target price on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company raised their price target on W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Evercore ISI lifted their price objective 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. Royal Bank of Canada decreased their target price 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. Finally, Scotiabank dropped their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.30.

W. P. Carey Stock Performance

NYSE:WPC opened at $62.24 on Friday. The company has a 50-day moving average of $59.52 and a 200-day moving average of $57.41. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. 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 Inc. has a twelve month low of $51.36 and a twelve month high of $67.40.

W. P. Carey (NYSE:WPC) last issued 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 for 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 company’s quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 earnings per share. Analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share 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. Stockholders of record on Monday, September 30th will be given a dividend of $0.875 per share. The ex-dividend date is Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.62%. W. P. Carey’s payout ratio is 132.32%.

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.