W. P. Carey Inc. (NYSE:WPC) CAO Brian H. Zander Sells 440 Shares

W. P. Carey Inc. (NYSE:WPC) CAO Brian H. Zander sold 440 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $56.65, for a total transaction of $24,926.00. Following the completion of the sale, the chief accounting officer now owns 7,237 shares in the company, valued at approximately $409,976.05. This trade represents a 5.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $57.10 on Monday. The firm’s 50 day moving average is $58.95 and its two-hundred day moving average is $58.23. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The firm has a market capitalization of $12.50 billion, a P/E ratio of 22.48, a PEG ratio of 1.06 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the business posted $1.32 EPS. W. P. Carey’s revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. 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 6.13%. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price 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. Scotiabank dropped their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays increased their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares in the last quarter. Quarry LP boosted its holdings in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 357 shares in the last quarter. Lynx Investment Advisory bought a new stake in W. P. Carey during the second quarter worth approximately $34,000. Finally, EdgeRock Capital LLC bought a new stake in W. P. Carey during the second quarter worth approximately $39,000. 73.73% of the stock is currently owned by institutional investors.

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.