Amalgamated Bank Sells 17,416 Shares of W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,201 shares of the real estate investment trust’s stock after selling 17,416 shares during the period. Amalgamated Bank’s holdings in W. P. Carey were worth $6,492,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Equity Investment Corp purchased a new stake in W. P. Carey in the 1st quarter worth approximately $59,802,000. Massachusetts Financial Services Co. MA lifted its stake 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 worth $178,401,000 after acquiring an additional 588,636 shares during the period. Hsbc Holdings PLC boosted its holdings in W. P. Carey by 185.7% in the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after acquiring an additional 444,785 shares in the last quarter. International Assets Investment Management LLC increased its position in W. P. Carey by 6,145.1% during the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after purchasing an additional 400,782 shares during the period. Finally, PGGM Investments raised its holdings in W. P. Carey by 18.5% in the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently 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 research report on Wednesday, August 7th. Evercore ISI upped their target price 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. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reduced 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. Finally, UBS Group raised their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Price Performance

WPC opened at $55.40 on Thursday. The firm has a market cap of $12.12 billion, a PE ratio of 21.81, a P/E/G ratio of 1.03 and a beta of 0.95. The stock has a 50-day moving average price of $60.18 and a 200-day moving average price of $58.22. W. P. Carey Inc. has a 1 year low of $53.01 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last issued its earnings results 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 firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.32 earnings per share. Sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.32%. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Insider Activity

In related news, Director Mark A. Alexander acquired 3,500 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This trade 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. Insiders own 1.18% of the company’s stock.

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.