Massmutual Trust Co. FSB ADV Acquires 231 Shares of W. P. Carey Inc. (NYSE:WPC)

Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 93.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 479 shares of the real estate investment trust’s stock after acquiring an additional 231 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in W. P. Carey were worth $26,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in W. P. Carey by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after purchasing an additional 187,022 shares during the last quarter. Cohen & Steers Inc. grew its holdings in shares of W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after acquiring an additional 5,407,289 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in W. P. Carey by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after purchasing an additional 1,124,010 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of W. P. Carey by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock worth $196,902,000 after buying an additional 43,959 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in W. P. Carey by 14.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,623,549 shares of the real estate investment trust’s stock valued at $170,032,000 after buying an additional 338,194 shares during the period. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Up 2.1 %

Shares of NYSE WPC opened at $57.14 on Wednesday. The stock has a market capitalization of $12.50 billion, a P/E ratio of 21.73, a PEG ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.40. The firm’s 50 day simple moving average is $56.78 and its two-hundred day simple moving average is $57.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90.

W. P. Carey (NYSE:WPC) last posted 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 business had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the previous year, the company earned $1.36 earnings per share. The business’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, analysts expect that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend was Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 132.32%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Scotiabank raised their target price on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada dropped 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 research note on Thursday, August 1st. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Finally, UBS Group boosted their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average price target of $60.91.

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.