State of Alaska Department of Revenue Decreases Position in W. P. Carey Inc. (NYSE:WPC)

State of Alaska Department of Revenue lessened its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 12.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 147,842 shares of the real estate investment trust's stock after selling 21,691 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of W. P. Carey worth $9,208,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WPC. HB Wealth Management LLC lifted its holdings in shares of W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust's stock worth $684,000 after purchasing an additional 8,843 shares during the period. SG Americas Securities LLC lifted its position in W. P. Carey by 41.9% in the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust's stock valued at $9,742,000 after purchasing an additional 46,181 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in W. P. Carey by 69.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust's stock valued at $1,319,000 after purchasing an additional 9,353 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in W. P. Carey by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust's stock worth $25,749,000 after purchasing an additional 9,324 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of W. P. Carey by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust's stock worth $5,954,000 after buying an additional 9,619 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Trading Up 0.3 %

NYSE:WPC traded up $0.20 during mid-day trading on Monday, reaching $57.48. The company's stock had a trading volume of 973,042 shares, compared to its average volume of 1,207,403. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The stock has a market cap of $12.58 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.11 and a beta of 0.94. The company's fifty day simple moving average is $60.69 and its two-hundred day simple moving average is $58.18. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last released 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). The company had revenue of $389.70 million during the quarter, compared to analysts' expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey's revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 earnings per share. On average, equities analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's payout ratio is 133.08%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WPC shares. Scotiabank dropped their price objective 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. Royal Bank of Canada lowered their price target on shares of W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. Barclays raised their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. UBS Group upped their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. decreased their price target on W. P. Carey from $70.00 to $68.00 and set an "overweight" rating on the stock in a research note on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of "Hold" and an average price target of $63.25.

Insider Transactions at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the firm's stock in a transaction dated 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 acquisition, the director now owns 38,124 shares of the company's stock, valued at $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.08% of the company's stock.

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.