Amalgamated Bank Has $6.49 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank lessened its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 14.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,201 shares of the real estate investment trust's stock after selling 17,416 shares during the period. Amalgamated Bank's holdings in W. P. Carey were worth $6,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its stake in W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust's stock valued at $684,000 after purchasing an additional 8,843 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of W. P. Carey by 41.9% in the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust's stock valued at $9,742,000 after purchasing an additional 46,181 shares during the period. EverSource Wealth Advisors LLC raised its holdings in W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust's stock worth $1,319,000 after buying an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of W. P. Carey by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust's stock worth $25,749,000 after acquiring an additional 9,324 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of W. P. Carey by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust's stock valued at $5,954,000 after acquiring an additional 9,619 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WPC shares. Barclays boosted their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Evercore ISI upped their price target on 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. UBS Group raised their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on W. P. Carey from $70.00 to $68.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada cut their target price 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. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.25.

W. P. Carey Price Performance

NYSE WPC traded up $0.32 on Thursday, hitting $55.73. 1,152,238 shares of the company were exchanged, compared to its average volume of 1,218,081. The firm has a 50 day moving average of $60.11 and a two-hundred day moving average of $58.20. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market cap of $12.20 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.03 and a beta of 0.95. 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 - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.28%. The ex-dividend date was Monday, September 30th. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is presently 137.80%.

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the company's stock in a transaction dated Friday, August 9th. The shares were bought 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 directly owns 38,124 shares in the company, valued at $2,129,987.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.18% of the company's stock.

W. P. Carey Company 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.