Nisa Investment Advisors LLC Sells 5,325 Shares of W. P. Carey Inc. (NYSE:WPC)

Nisa Investment Advisors LLC lowered its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 6.2% in the second quarter, HoldingsChannel reports. The firm owned 80,075 shares of the real estate investment trust’s stock after selling 5,325 shares during the period. Nisa Investment Advisors LLC’s holdings in W. P. Carey were worth $4,483,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WPC. Cohen & Steers Inc. raised 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 period. Norges Bank acquired a new stake in W. P. Carey during the fourth quarter worth approximately $157,107,000. Equity Investment Corp bought a new stake in shares of W. P. Carey during the first quarter worth approximately $59,802,000. Principal Financial Group Inc. grew its position in shares of W. P. Carey by 4,716.5% in the fourth quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after purchasing an additional 785,766 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of W. P. Carey by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after purchasing an additional 657,188 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

W. P. Carey stock opened at $58.48 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The stock has a market cap of $12.80 billion, a PE ratio of 22.24, a P/E/G ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The business’s 50-day moving average price is $56.80 and its two-hundred day moving average price is $56.83.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) 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 company’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. As a group, analysts expect that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a dividend yield of 5.95%. W. P. Carey’s dividend payout ratio is 132.32%.

Insider Activity

In other news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction that occurred on 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. UBS Group raised their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Finally, 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 on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $60.91.

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.