Ensign Peak Advisors Inc Acquires 40,710 Shares of W. P. Carey Inc. (NYSE:WPC)

Ensign Peak Advisors Inc raised its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 56.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,330 shares of the real estate investment trust's stock after acquiring an additional 40,710 shares during the period. Ensign Peak Advisors Inc owned approximately 0.05% of W. P. Carey worth $6,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new position in W. P. Carey during the first quarter worth $26,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 93.1% during the 2nd 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 during the period. Allspring Global Investments Holdings LLC raised its position in shares of W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 453 shares during the last quarter. Riverview Trust Co bought a new stake in shares of W. P. Carey in the first quarter valued at about $28,000. Finally, YHB Investment Advisors Inc. acquired a new stake in W. P. Carey during the first quarter worth about $30,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the company's stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.08% of the company's stock.

W. P. Carey Price Performance

Shares of NYSE:WPC traded up $0.26 during midday trading on Thursday, reaching $62.84. The company's stock had a trading volume of 578,500 shares, compared to its average volume of 1,239,271. The business's fifty day simple moving average is $59.85 and its 200-day simple moving average is $57.57. The company has a market capitalization of $13.75 billion, a P/E ratio of 23.89, a P/E/G ratio of 1.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. 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 for the quarter, missing the consensus estimate 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 company 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 business posted $1.36 EPS. The company's revenue was down 13.9% compared to the same quarter last year. As a group, equities research analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.875 per share. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 5.57%. W. P. Carey's dividend payout ratio is currently 133.08%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WPC shares. Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. UBS Group raised their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note 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 for the company in a report on Friday, July 12th. Finally, Wells Fargo & Company upped their price target on W. P. Carey from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.30.

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.