Pathway Financial Advisers LLC Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Pathway Financial Advisers LLC increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,352 shares of the real estate investment trust’s stock after purchasing an additional 1,055 shares during the period. Pathway Financial Advisers LLC’s holdings in W. P. Carey were worth $2,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in W. P. Carey by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after acquiring an additional 187,022 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of 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 worth $178,401,000 after purchasing an additional 588,636 shares during the period. Dimensional Fund Advisors LP grew its position in shares of W. P. Carey by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after acquiring an additional 7,549 shares during the last quarter. Finally, PGGM Investments raised its holdings in shares of W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after acquiring an additional 389,853 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. UBS Group raised their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Barclays upped their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. 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 note on Tuesday, October 1st. Finally, Evercore ISI upped their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average target price of $63.25.

W. P. Carey Stock Performance

Shares of W. P. Carey stock traded down $1.27 during midday trading on Friday, hitting $57.28. The company had a trading volume of 975,363 shares, compared to its average volume of 1,208,532. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $60.71 and a 200 day simple moving average of $58.15. W. P. Carey Inc. has a 12-month low of $51.60 and a 12-month high of $67.40. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the prior year, the company earned $1.36 EPS. W. P. Carey’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 6.11%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 133.08%.

Insider Transactions at W. P. Carey

In other news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction on 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 completion of the acquisition, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.08% of the company’s stock.

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.