Pathway Financial Advisers LLC Grows Position in W. P. Carey Inc. (NYSE:WPC)

Pathway Financial Advisers LLC raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,352 shares of the real estate investment trust’s stock after buying an additional 1,055 shares during the quarter. Pathway Financial Advisers LLC’s holdings in W. P. Carey were worth $2,140,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in W. P. Carey by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after buying an additional 187,022 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after buying an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in W. P. Carey by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after buying an additional 204,064 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after purchasing an additional 7,549 shares in the last quarter. Finally, PGGM Investments increased its holdings in shares of W. P. Carey by 18.5% in the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In related news, Director Mark A. Alexander purchased 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WPC shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada reduced their target price 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. Evercore ISI lifted their target price 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. JPMorgan Chase & Co. reduced their target price 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, Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average target price of $63.25.

W. P. Carey Stock Performance

Shares of WPC opened at $56.72 on Wednesday. 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 Inc. has a one year low of $51.60 and a one year high of $67.40. The firm has a market capitalization of $12.41 billion, a P/E ratio of 21.57, a PEG ratio of 1.11 and a beta of 0.94. The business has a fifty day moving average of $60.65 and a 200 day moving average of $58.19.

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 (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same period in the prior year, the firm posted $1.36 EPS. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 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.