Bank of New York Mellon Corp Acquires 7,549 Shares of W. P. Carey Inc. (NYSE:WPC)

Bank of New York Mellon Corp grew its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,524,490 shares of the real estate investment trust's stock after acquiring an additional 7,549 shares during the period. Bank of New York Mellon Corp owned 1.15% of W. P. Carey worth $138,973,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. grew 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 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 during the period. HB Wealth Management LLC boosted its holdings 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 boosted its holdings 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 worth $441,000 after buying an additional 209 shares during the period. Finally, Cooper Financial Group boosted its holdings 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 worth $599,000 after buying an additional 224 shares during the period. 73.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WPC has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of W. P. Carey from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday. UBS Group upped their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, July 18th. Scotiabank decreased their price objective on shares of 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. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research note on Friday, June 21st. 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 note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $61.09.

W. P. Carey Price Performance

Shares of WPC stock traded down $0.21 during mid-day trading on Tuesday, reaching $59.83. The company's stock had a trading volume of 667,835 shares, compared to its average volume of 1,269,243. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The company has a market cap of $13.09 billion, a P/E ratio of 22.83, a PEG ratio of 1.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.93. The firm's 50-day moving average is $57.20 and its two-hundred day moving average is $56.74.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the prior year, the company posted $1.36 EPS. The company's quarterly revenue was down 13.9% compared to the same quarter last year. On average, research analysts predict 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 announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.82%. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is 132.32%.

Insider Buying and Selling

In other news, Director Mark A. Alexander bought 3,500 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now directly owns 38,124 shares of the company's stock, valued at approximately $2,129,987.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.