ProShare Advisors LLC Sells 352 Shares of W. P. Carey Inc. (NYSE:WPC)

ProShare Advisors LLC decreased its stake in W. P. Carey Inc. (NYSE:WPC) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,320 shares of the real estate investment trust’s stock after selling 352 shares during the period. ProShare Advisors LLC’s holdings in W. P. Carey were worth $568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WPC. Gilbert & Cook Inc. grew its holdings in shares of W. P. Carey by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 314 shares during the last quarter. TD Asset Management Inc grew its holdings in W. P. Carey by 14.3% during the 4th quarter. TD Asset Management Inc now owns 32,695 shares of the real estate investment trust’s stock worth $2,119,000 after acquiring an additional 4,082 shares during the last quarter. Treasurer of the State of North Carolina increased its position in W. P. Carey by 3.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 115,395 shares of the real estate investment trust’s stock valued at $7,479,000 after acquiring an additional 3,587 shares during the period. Bank of Nova Scotia raised its stake in shares of W. P. Carey by 45.0% during the fourth quarter. Bank of Nova Scotia now owns 16,729 shares of the real estate investment trust’s stock valued at $1,084,000 after acquiring an additional 5,195 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of W. P. Carey by 455.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 181,860 shares of the real estate investment trust’s stock worth $11,786,000 after purchasing an additional 149,124 shares during the period. Institutional investors own 73.73% of the company’s stock.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. decreased their target price 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. Royal Bank of Canada dropped their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI upped 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. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.13.

W. P. Carey Stock Down 0.2 %

W. P. Carey stock opened at $62.74 on Monday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $13.73 billion, a PE ratio of 23.86, a PEG ratio of 1.18 and a beta of 0.94. The firm’s fifty day moving average is $59.92 and its 200 day moving average is $57.61. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-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 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the prior year, the business earned $1.36 earnings per share. The business’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.875 per share. 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. This represents a $3.50 annualized dividend and a dividend yield of 5.58%. W. P. Carey’s payout ratio is currently 133.08%.

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.