Allspring Global Investments Holdings LLC Raises Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Allspring Global Investments Holdings LLC increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 70.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 824 shares of the real estate investment trust’s stock after buying an additional 341 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in W. P. Carey were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norden Group LLC acquired a new stake in W. P. Carey during the first quarter worth about $277,000. Diversify Advisory Services LLC acquired a new stake in shares of W. P. Carey in the first quarter valued at about $277,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of W. P. Carey by 4.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,831 shares of the real estate investment trust’s stock valued at $668,000 after buying an additional 554 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of W. P. Carey by 3.0% in the first quarter. Janney Montgomery Scott LLC now owns 172,649 shares of the real estate investment trust’s stock valued at $9,744,000 after buying an additional 4,991 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of W. P. Carey in the first quarter valued at about $49,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WPC. Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reduced their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Barclays increased their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced 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. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Trading Up 0.4 %

Shares of NYSE WPC opened at $55.34 on Tuesday. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 1.04 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $53.01 and a 12-month high of $67.40. The company has a current ratio of 1.00, a quick ratio of 1.93 and a debt-to-equity ratio of 0.90. The stock’s 50 day simple moving average is $60.44 and its 200 day simple moving average is $58.23.

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

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.32%. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

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.