W. P. Carey Inc. (NYSE:WPC) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 13.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,698 shares of the real estate investment trust’s stock after selling 1,004 shares during the period. J.W. Cole Advisors Inc.’s holdings in W. P. Carey were worth $417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WPC. Richardson Financial Services Inc. acquired a new position in W. P. Carey during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP boosted its stake in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in W. P. Carey during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Activity 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 on Friday, August 9th. The shares were bought at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price target on 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. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Scotiabank cut their price target on shares of 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. 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 stock presently has an average rating of “Hold” and an average price target of $63.25.

W. P. Carey Trading Down 0.9 %

W. P. Carey stock opened at $55.69 on Friday. The firm has a market cap of $12.19 billion, a PE ratio of 21.93, a P/E/G ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a 12 month low of $52.67 and a 12 month high of $67.40. The stock’s 50 day simple moving average is $60.60 and its two-hundred day simple moving average is $58.18. 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 (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period last year, the company posted $1.32 earnings per share. The business’s quarterly revenue was down 11.9% on a year-over-year basis. Analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a boost 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 6.28%. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

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.