W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Kowal Investment Group LLC

Kowal Investment Group LLC increased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,070 shares of the real estate investment trust’s stock after purchasing an additional 199 shares during the period. Kowal Investment Group LLC’s holdings in W. P. Carey were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ensign Peak Advisors Inc grew its stake in shares of W. P. Carey by 56.8% during the second quarter. Ensign Peak Advisors Inc now owns 112,330 shares of the real estate investment trust’s stock worth $6,184,000 after purchasing an additional 40,710 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of W. P. Carey by 33.1% during the second quarter. Thrivent Financial for Lutherans now owns 94,838 shares of the real estate investment trust’s stock worth $5,221,000 after purchasing an additional 23,568 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of W. P. Carey by 20.0% during the second quarter. AE Wealth Management LLC now owns 9,778 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 1,631 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of W. P. Carey by 8.2% during the second quarter. Canada Pension Plan Investment Board now owns 583,851 shares of the real estate investment trust’s stock worth $32,141,000 after purchasing an additional 44,322 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of W. P. Carey during the second quarter worth $358,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WPC shares. UBS Group boosted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Evercore ISI boosted 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 report on Monday, September 16th. Scotiabank reduced their price target 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, Wells Fargo & Company boosted their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.30.

Insider Buying and Selling

In other news, Director Mark A. Alexander purchased 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased 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 directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is currently owned by corporate insiders.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $62.24 on Friday. The company has a 50-day simple moving average of $59.52 and a 200-day simple 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 quick ratio of 1.93 and a current ratio of 1.93. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.16 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last announced its earnings results 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 net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. During the same period in the previous year, the company posted $1.36 earnings per share. W. P. Carey’s quarterly revenue was down 13.9% on a year-over-year basis. On average, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 annualized dividend and a yield of 5.62%. The ex-dividend date is Monday, September 30th. W. P. Carey’s dividend payout ratio is currently 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.