WealthPLAN Partners LLC Cuts Position in W. P. Carey Inc. (NYSE:WPC)

WealthPLAN Partners LLC lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 78.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,258 shares of the real estate investment trust’s stock after selling 79,387 shares during the period. WealthPLAN Partners LLC’s holdings in W. P. Carey were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of W. P. Carey by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after acquiring an additional 187,022 shares in the last quarter. Cohen & Steers Inc. raised its holdings in W. P. Carey by 91.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after purchasing an additional 5,407,289 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of W. P. Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after buying an additional 204,064 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of W. P. Carey by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after buying an additional 7,549 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Up 1.1 %

NYSE WPC opened at $63.95 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40. The company’s 50 day moving average price is $58.82 and its 200 day moving average price is $57.19. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.16 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) 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 prior year, the company posted $1.36 earnings per share. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

Insider Activity at W. P. Carey

In related 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, with a total value of $195,545.00. Following the transaction, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on WPC shares. Scotiabank reduced their price target on shares of 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. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. JPMorgan Chase & Co. dropped their price objective 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. Wells Fargo & Company raised their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Finally, Evercore ISI upped their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average target price of $60.30.

W. P. Carey 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.