W. P. Carey Inc. (NYSE:WPC) Stock Position Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 7.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,220,175 shares of the real estate investment trust's stock after selling 99,325 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.56% of W. P. Carey worth $67,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in shares of W. P. Carey in the first quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 231 shares in the last quarter. First United Bank & Trust purchased a new stake in shares of W. P. Carey during the fourth quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its holdings in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 453 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in W. P. Carey during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 73.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank of Canada dropped 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. UBS Group boosted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, July 18th. Scotiabank lowered their price objective on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered 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. Finally, Wells Fargo & Company increased their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $60.00.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company's stock in a transaction 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 purchase, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is owned by company insiders.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $0.79 during trading hours on Friday, reaching $60.02. The stock had a trading volume of 1,110,000 shares, compared to its average volume of 1,261,253. The firm has a market capitalization of $13.13 billion, a PE ratio of 22.82, a PEG ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40. 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 stock's 50 day moving average is $57.55 and its 200 day moving average is $56.82.

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

W. P. Carey Increases Dividend

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

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.