APG Asset Management N.V. Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

APG Asset Management N.V. grew its position in W. P. Carey Inc. (NYSE:WPC) by 185.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,647 shares of the real estate investment trust’s stock after acquiring an additional 17,300 shares during the quarter. APG Asset Management N.V.’s holdings in W. P. Carey were worth $1,369,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WPC. Richardson Financial Services Inc. bought a new position in W. P. Carey during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew its stake in shares of W. P. Carey by 93.1% during 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 buying an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of W. P. Carey by 1,510.0% in 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 during the period. Riverview Trust Co bought a new stake in shares of W. P. Carey during the 1st quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in W. P. Carey during the 1st quarter valued at $30,000. Institutional investors own 73.73% of the company’s stock.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the transaction, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of 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. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. UBS Group upped their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Scotiabank cut their price target on 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. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.13.

W. P. Carey Stock Down 0.7 %

Shares of NYSE WPC opened at $62.31 on Tuesday. The stock has a market capitalization of $13.63 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The stock’s fifty day simple moving average is $59.98 and its two-hundred day simple moving average is $57.66.

W. P. Carey (NYSE:WPC) last posted its 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). The company had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. As a group, analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal 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 given a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 5.62%. W. P. Carey’s dividend payout ratio is presently 133.08%.

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.