W. P. Carey Inc. (NYSE:WPC) Holdings Cut by WealthPLAN Partners LLC

WealthPLAN Partners LLC trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 78.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Cohen & Steers Inc. increased its holdings in shares of 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 valued at $731,800,000 after purchasing an additional 5,407,289 shares during the period. Norges Bank acquired a new position in W. P. Carey during the 4th quarter valued at about $157,107,000. Equity Investment Corp bought a new stake in shares of W. P. Carey during the 1st quarter worth about $59,802,000. Vanguard Group Inc. lifted its stake in shares of W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after acquiring an additional 657,188 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of W. P. Carey by 22.2% during 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 acquiring an additional 588,636 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the acquisition, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

W. P. Carey Stock Up 1.1 %

WPC stock opened at $63.95 on Tuesday. The company has a 50 day moving average of $58.82 and a two-hundred day moving average of $57.19. The company has a market cap 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 Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio 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 last year, the firm earned $1.36 EPS. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. On average, equities analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Wells Fargo & Company increased their target price on shares of W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Evercore ISI lifted 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. Finally, Scotiabank decreased their price target 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. One 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.com, W. P. Carey presently has a consensus rating of “Hold” and an average price target 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.