Gateway Investment Advisers LLC Purchases 11,561 Shares of W. P. Carey Inc. (NYSE:WPC)

Gateway Investment Advisers LLC grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,658 shares of the real estate investment trust’s stock after purchasing an additional 11,561 shares during the period. Gateway Investment Advisers LLC’s holdings in W. P. Carey were worth $5,087,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky acquired a new position in shares of W. P. Carey in the fourth quarter valued at approximately $4,029,000. Virtu Financial LLC bought a new position in W. P. Carey in the fourth quarter worth approximately $265,000. Integrated Advisors Network LLC bought a new stake in W. P. Carey during the 4th quarter valued at $340,000. American International Group Inc. raised its holdings in shares of W. P. Carey by 16,416.8% in the 4th quarter. American International Group Inc. now owns 295,320 shares of the real estate investment trust’s stock worth $19,140,000 after acquiring an additional 293,532 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of W. P. Carey by 15.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 308,057 shares of the real estate investment trust’s stock valued at $19,965,000 after purchasing an additional 42,239 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $59.82 on Friday. The stock has a 50 day moving average of $60.20 and a 200 day moving average of $57.92. W. P. Carey Inc. has a 12 month low of $51.60 and a 12 month high of $67.40. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The firm has a market cap of $13.09 billion, a PE ratio of 22.75, a PEG ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) 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 the consensus estimate of $1.12 by ($0.47). The firm had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. W. P. Carey’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. On average, research analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 5.85%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, September 30th. W. P. Carey’s payout ratio is presently 133.08%.

Analyst Ratings Changes

Several research firms recently weighed in on WPC. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Royal Bank of Canada decreased 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 report on Thursday, August 1st. Barclays increased their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of 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. Finally, 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. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.25.

Insiders Place Their Bets

In related news, Director Mark A. Alexander acquired 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

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.