W. P. Carey Inc. (NYSE:WPC) Holdings Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in W. P. Carey Inc. (NYSE:WPC) by 17.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,451 shares of the real estate investment trust’s stock after selling 13,624 shares during the period. Nisa Investment Advisors LLC’s holdings in W. P. Carey were worth $4,206,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC grew its stake in shares of W. P. Carey by 5.2% in the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 198 shares during the last quarter. Kowal Investment Group LLC raised its holdings in shares of W. P. Carey by 3.4% in the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 199 shares in the last quarter. Creative Planning raised its holdings in shares of W. P. Carey by 0.3% in the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after purchasing an additional 207 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in W. P. Carey by 9.5% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 212 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of several research reports. Scotiabank dropped their price target 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 cut their target price on 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. JPMorgan Chase & Co. decreased their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Evercore ISI boosted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, UBS Group raised their target price 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $63.25.

Insiders Place Their Bets

In other news, Director Mark A. Alexander purchased 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.08% of the company’s stock.

W. P. Carey Price Performance

NYSE WPC opened at $55.13 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $12.06 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94. W. P. Carey Inc. has a 12-month low of $53.01 and a 12-month high of $67.40. The company has a 50 day moving average price of $60.54 and a two-hundred day moving average price of $58.16.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 EPS. As a group, equities analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.35%. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is 137.80%.

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.