W. P. Carey Inc. (NYSE:WPC) Stock Holdings Lessened by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 15.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 642,560 shares of the real estate investment trust's stock after selling 113,409 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of W. P. Carey worth $35,373,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WPC. SRS Capital Advisors Inc. raised its position in shares of W. P. Carey by 1.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust's stock worth $1,097,000 after acquiring an additional 191 shares in the last quarter. Accurate Wealth Management LLC boosted its holdings in shares of W. P. Carey by 5.6% during the 1st quarter. Accurate Wealth Management LLC now owns 3,913 shares of the real estate investment trust's stock worth $220,000 after buying an additional 208 shares in the last quarter. HB Wealth Management LLC grew its position in shares of W. P. Carey by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust's stock worth $202,000 after buying an additional 208 shares during the period. Fisher Asset Management LLC lifted its position in shares of W. P. Carey by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust's stock valued at $441,000 after acquiring an additional 209 shares during the period. Finally, Cooper Financial Group lifted its position in shares of W. P. Carey by 2.1% during the 2nd quarter. Cooper Financial Group now owns 10,881 shares of the real estate investment trust's stock valued at $599,000 after acquiring an additional 224 shares during the period. Institutional investors own 73.73% of the company's stock.

Insiders Place Their Bets

In related news, Director Mark A. Alexander acquired 3,500 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.08% of the company's stock.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.21 during mid-day trading on Tuesday, reaching $58.28. The company had a trading volume of 826,587 shares, compared to its average volume of 1,286,562. The company has a current ratio of 1.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40. The company's 50-day moving average price is $56.85 and its 200-day moving average price is $56.80.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same period in the previous year, the firm earned $1.36 EPS. The company's revenue was down 13.9% compared to the same quarter last year. As a group, equities research analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.87 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 annualized dividend and a yield of 5.97%. W. P. Carey's dividend payout ratio (DPR) is currently 132.32%.

Wall Street Analyst Weigh In

WPC has been the topic of several research reports. UBS Group upped their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, July 18th. JPMorgan Chase & Co. reduced their price objective on W. P. Carey from $70.00 to $68.00 and set an "overweight" rating for the company in a research note on Friday, July 12th. Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an "outperform" rating for the company in a report on Thursday, August 1st. Scotiabank cut their target price on 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. Finally, Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an "equal weight" rating on the stock in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.