Pathway Financial Advisers LLC Lowers Position in W. P. Carey Inc. (NYSE:WPC)

Pathway Financial Advisers LLC trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,297 shares of the real estate investment trust’s stock after selling 303 shares during the quarter. Pathway Financial Advisers LLC’s holdings in W. P. Carey were worth $1,830,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC raised its stake in W. P. Carey by 247.3% in the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after buying an additional 8,843 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after purchasing an additional 9,353 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in W. P. Carey by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after purchasing an additional 9,324 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after buying an additional 9,619 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of W. P. Carey by 16,416.8% during the fourth quarter. American International Group Inc. now owns 295,320 shares of the real estate investment trust’s stock worth $19,140,000 after buying an additional 293,532 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

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

W. P. Carey Stock Down 0.7 %

Shares of WPC opened at $62.31 on Tuesday. The stock has a fifty day simple moving average of $59.98 and a two-hundred day simple moving average of $57.66. 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 $13.63 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.40.

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 the consensus estimate of $1.12 by ($0.47). The firm had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, equities analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.875 dividend. This is a positive change 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 of this dividend is Monday, September 30th. W. P. Carey’s payout ratio is 133.08%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company lifted their price target on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Scotiabank dropped their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Evercore ISI boosted their price target on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.13.

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.