Axa S.A. Grows Stake in W. P. Carey Inc. (NYSE:WPC)

Axa S.A. boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 84.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,572 shares of the real estate investment trust’s stock after buying an additional 47,744 shares during the quarter. Axa S.A.’s holdings in W. P. Carey were worth $5,757,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WPC. Catalytic Wealth RIA LLC lifted its position in shares of W. P. Carey by 5.2% in the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 198 shares in the last quarter. Kowal Investment Group LLC lifted its holdings in W. P. Carey by 3.4% in the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 199 shares in the last quarter. HB Wealth Management LLC boosted its stake in W. P. Carey by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 208 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of W. P. Carey by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 209 shares in the last quarter. Finally, Cooper Financial Group raised its position in shares of W. P. Carey by 2.1% in the second quarter. Cooper Financial Group now owns 10,881 shares of the real estate investment trust’s stock valued at $599,000 after buying an additional 224 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Down 0.2 %

NYSE WPC opened at $62.74 on Friday. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40. The stock has a market capitalization of $13.73 billion, a P/E ratio of 23.86, a PEG ratio of 1.18 and a beta of 0.94. The firm’s 50-day moving average is $59.92 and its two-hundred day moving average is $57.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same period in the previous year, the business posted $1.36 EPS. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 5.58%. W. P. Carey’s dividend payout ratio is presently 133.08%.

Analysts Set New Price Targets

WPC has been the subject of several research reports. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Evercore ISI boosted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their target price on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus price target of $61.13.

Insider Activity 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 on Friday, August 9th. The shares were bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by company insiders.

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.