Inspirion Wealth Advisors LLC Decreases Holdings in W. P. Carey Inc. (NYSE:WPC)

Inspirion Wealth Advisors LLC trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,387 shares of the real estate investment trust’s stock after selling 974 shares during the period. Inspirion Wealth Advisors LLC’s holdings in W. P. Carey were worth $2,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Prime Capital Investment Advisors LLC increased its holdings in shares of W. P. Carey by 14.4% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 6,226 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 783 shares in the last quarter. Tobam lifted its position in W. P. Carey by 12.6% during the 4th quarter. Tobam now owns 3,468 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 388 shares during the period. Sequoia Financial Advisors LLC grew its stake in W. P. Carey by 4.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 78,718 shares of the real estate investment trust’s stock valued at $5,102,000 after purchasing an additional 3,142 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of W. P. Carey in the fourth quarter valued at about $8,751,000. Finally, Sandy Spring Bank boosted its position in W. P. Carey by 14.0% in the fourth quarter. Sandy Spring Bank now owns 2,440 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 300 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on WPC. Wells Fargo & Company dropped their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Scotiabank dropped their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday. UBS Group upped their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lowered their price objective on 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. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average target price of $60.91.

W. P. Carey Trading Down 0.9 %

Shares of WPC traded down $0.50 during midday trading on Friday, hitting $56.28. 786,075 shares of the stock were exchanged, compared to its average volume of 1,304,758. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.40. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.93. The stock has a fifty day simple moving average of $56.81 and a 200 day simple moving average of $57.09. The firm has a market cap of $12.32 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.07 and a beta of 0.92.

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 analysts’ consensus estimates of $1.12 by ($0.47). The business had revenue of $389.70 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 earnings per share. On average, research analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 6.18%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. W. P. Carey’s payout ratio is 132.32%.

W. P. Carey Company 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.