36,167 Shares in W. P. Carey Inc. (NYSE:WPC) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in W. P. Carey Inc. (NYSE:WPC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,167 shares of the real estate investment trust’s stock, valued at approximately $1,990,000.

Several other large investors have also recently bought and sold shares of the stock. Cohen & Steers Inc. grew its position in shares of W. P. Carey by 91.9% in the fourth 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 last quarter. Equity Investment Corp bought a new stake in W. P. Carey in the 1st quarter valued at $59,802,000. Vanguard Group Inc. grew its holdings in W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after buying an additional 657,188 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of W. P. Carey by 22.2% during the second 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 buying an additional 588,636 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of W. P. Carey by 185.7% during the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after buying an additional 444,785 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered 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. UBS Group lifted 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. 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 research note on Monday, September 16th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, Scotiabank cut their target price on 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus price target of $61.25.

W. P. Carey Stock Performance

W. P. Carey stock opened at $59.61 on Wednesday. The stock has a market cap of $13.04 billion, a PE ratio of 22.67, a P/E/G ratio of 1.18 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 12-month low of $51.60 and a 12-month high of $67.40. The business’s 50-day moving average price is $60.07 and its two-hundred day moving average price is $57.85.

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 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 for the quarter, compared to the consensus estimate of $381.39 million. During the same period in the previous year, the firm posted $1.36 EPS. The business’s quarterly revenue was down 13.9% compared to the same quarter last year. As a group, analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.87%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’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 acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.08% of the company’s stock.

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.