Excalibur Management Corp Buys 930 Shares of W. P. Carey Inc. (NYSE:WPC)

Excalibur Management Corp lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,255 shares of the real estate investment trust’s stock after acquiring an additional 930 shares during the period. Excalibur Management Corp’s holdings in W. P. Carey were worth $1,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. bought a new stake in W. P. Carey in the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in 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 worth $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in 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 valued at $27,000 after purchasing an additional 453 shares in the last quarter. Riverview Trust Co acquired a new stake in W. P. Carey in the 1st quarter valued at $28,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of W. P. Carey during the 1st quarter worth about $30,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Up 1.1 %

W. P. Carey stock opened at $63.95 on Tuesday. The company’s 50-day moving average price is $58.82 and its two-hundred day moving average price is $57.19. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The stock has a market cap of $13.99 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.16 and a beta of 0.94. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same period in the previous year, the business posted $1.36 earnings per share. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WPC. Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Scotiabank lowered their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, Evercore ISI boosted their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.30.

W. P. Carey 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.