W. P. Carey Inc. (NYSE:WPC) Shares Purchased by abrdn plc

abrdn plc lifted its position in W. P. Carey Inc. (NYSE:WPC) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,657 shares of the real estate investment trust’s stock after purchasing an additional 9,229 shares during the period. abrdn plc’s holdings in W. P. Carey were worth $6,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in WPC. Equity Investment Corp acquired a new position in W. P. Carey during the first quarter worth $59,802,000. Massachusetts Financial Services Co. MA raised its position in 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 acquiring an additional 588,636 shares during the period. Hsbc Holdings PLC raised its position in 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 acquiring an additional 444,785 shares during the period. International Assets Investment Management LLC raised its position in W. P. Carey by 6,145.1% during the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after acquiring an additional 400,782 shares during the period. Finally, PGGM Investments grew its holdings in shares of W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after buying an additional 389,853 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WPC. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays upped their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Evercore ISI upped their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.25.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the transaction, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.08% of the company’s stock.

W. P. Carey Trading Down 1.1 %

Shares of WPC stock opened at $55.12 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.93. The firm has a market cap of $12.06 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94. The company has a 50-day moving average of $60.44 and a two-hundred day moving average of $58.17. W. P. Carey Inc. has a 1-year low of $53.01 and a 1-year high of $67.40.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. On average, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared 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. This represents a $3.50 annualized dividend and a dividend yield of 6.35%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 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.