Mercer Global Advisors Inc. ADV Raises Position in W. P. Carey Inc. (NYSE:WPC)

Mercer Global Advisors Inc. ADV boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,505 shares of the real estate investment trust’s stock after buying an additional 8,048 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in W. P. Carey were worth $5,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WPC. Gilbert & Cook Inc. lifted its holdings in W. P. Carey by 5.5% in the fourth quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 314 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in W. P. Carey by 5.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,566 shares of the real estate investment trust’s stock worth $426,000 after buying an additional 346 shares during the period. PNC Financial Services Group Inc. lifted its holdings in W. P. Carey by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 37,999 shares of the real estate investment trust’s stock worth $2,463,000 after buying an additional 2,104 shares during the period. Assetmark Inc. lifted its holdings in W. P. Carey by 16.2% in the fourth quarter. Assetmark Inc. now owns 9,122 shares of the real estate investment trust’s stock worth $591,000 after buying an additional 1,273 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of W. P. Carey by 83.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,792 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 817 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the subject of several recent research reports. Royal Bank of Canada lowered 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 report on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. UBS Group lifted their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lowered 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 report on Friday, July 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, W. P. Carey has an average rating of “Hold” and an average price target of $60.30.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.08% of the company’s stock.

W. P. Carey Trading Down 1.4 %

NYSE:WPC opened at $62.24 on Friday. 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 12 month low of $51.36 and a 12 month high of $67.40. The company has a market cap of $13.62 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The company has a 50 day simple moving average of $59.52 and a two-hundred day simple moving average of $57.41.

W. P. Carey (NYSE:WPC) last posted 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 return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same period last year, the firm posted $1.36 EPS. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. Research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 132.32%.

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.