Mutual Advisors LLC Has $1.55 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Mutual Advisors LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,427 shares of the real estate investment trust’s stock after selling 1,744 shares during the period. Mutual Advisors LLC’s holdings in W. P. Carey were worth $1,547,000 at the end of the most recent reporting period.

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

Insider Transactions at W. P. Carey

In other news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction dated Friday, August 9th. The shares were purchased 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 $2,129,987.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WPC shares. 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. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Barclays increased their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Evercore ISI increased their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $55.69 on Friday. W. P. Carey Inc. has a twelve month low of $52.67 and a twelve month high of $67.40. The firm has a market capitalization of $12.19 billion, a PE ratio of 21.93, a P/E/G ratio of 1.11 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. The company has a 50-day moving average price of $60.60 and a two-hundred day moving average price of $58.18.

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 during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the previous year, the company posted $1.32 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 137.80%.

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.