AQR Capital Management LLC Has $1.13 Million Stake in W. P. Carey Inc. (NYSE:WPC)

AQR Capital Management LLC cut its stake in W. P. Carey Inc. (NYSE:WPC) by 14.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,683 shares of the real estate investment trust’s stock after selling 3,444 shares during the period. AQR Capital Management LLC’s holdings in W. P. Carey were worth $1,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. acquired a new stake in shares of W. P. Carey in the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV increased its position in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares in the last quarter. Riverview Trust Co bought a new stake in shares of W. P. Carey in the 1st quarter valued at about $28,000. Finally, Lynx Investment Advisory acquired a new stake in shares of W. P. Carey in the second quarter valued at approximately $34,000. 73.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.08% of the stock is owned by company insiders.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $59.80 on Friday. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.11 and a beta of 0.94. The firm has a fifty day moving average price of $60.20 and a 200 day moving average price of $57.91. W. P. Carey Inc. has a fifty-two week low of $51.60 and a fifty-two week 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.

W. P. Carey (NYSE:WPC) last released 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 company had revenue of $389.70 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.36 EPS. As a group, sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.875 per share. 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. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.85%. W. P. Carey’s dividend payout ratio is presently 133.08%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WPC. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Evercore ISI raised their target price 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. 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. JPMorgan Chase & Co. reduced their price objective 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. Finally, UBS Group increased 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. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.25.

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.