W. P. Carey Inc. (NYSE:WPC) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,083 shares of the real estate investment trust's stock after selling 4,513 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of W. P. Carey worth $14,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its position in W. P. Carey by 1.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust's stock valued at $1,097,000 after buying an additional 191 shares during the last quarter. Accurate Wealth Management LLC increased its stake in shares of W. P. Carey by 5.6% in the first quarter. Accurate Wealth Management LLC now owns 3,913 shares of the real estate investment trust's stock worth $220,000 after acquiring an additional 208 shares during the period. HB Wealth Management LLC raised its holdings in shares of W. P. Carey by 6.2% during the first quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust's stock worth $202,000 after purchasing an additional 208 shares during the last quarter. Fisher Asset Management LLC lifted its position in W. P. Carey by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust's stock valued at $441,000 after purchasing an additional 209 shares during the period. Finally, Cooper Financial Group boosted its holdings in W. P. Carey by 2.1% in the second quarter. Cooper Financial Group now owns 10,881 shares of the real estate investment trust's stock valued at $599,000 after purchasing an additional 224 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

Analysts Set New Price Targets

WPC has been the subject of a number of recent research reports. UBS Group lifted their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, July 18th. Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company dropped 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 research note on Thursday, May 30th. JPMorgan Chase & Co. cut 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. Finally, JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $60.91.

W. P. Carey Price Performance

Shares of NYSE WPC traded up $1.32 during trading on Friday, hitting $60.05. The company had a trading volume of 895,525 shares, compared to its average volume of 1,277,154. The firm has a market capitalization of $13.14 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. The stock has a fifty day simple moving average of $57.11 and a two-hundred day simple moving average of $56.78. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40.

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

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.87 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 5.80%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is presently 132.32%.

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.08% of the stock is currently owned by corporate insiders.

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.