Clearview Wealth Advisors LLC Cuts Holdings in W. P. Carey Inc. (NYSE:WPC)

Clearview Wealth Advisors LLC reduced its position in W. P. Carey Inc. (NYSE:WPC) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,695 shares of the real estate investment trust’s stock after selling 178 shares during the period. Clearview Wealth Advisors LLC’s holdings in W. P. Carey were worth $203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of W. P. Carey in the 4th quarter worth about $157,107,000. HB Wealth Management LLC increased its stake in W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after acquiring an additional 8,843 shares during the last quarter. Principal Securities Inc. purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $951,000. M&T Bank Corp lifted its stake in shares of W. P. Carey by 2.7% in the 4th quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock valued at $2,024,000 after purchasing an additional 825 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after purchasing an additional 9,324 shares during the period. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Up 1.3 %

WPC stock traded up $0.79 during trading on Friday, reaching $60.02. 1,110,000 shares of the company traded hands, compared to its average volume of 944,409. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40. The company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 1.12 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The business has a 50 day simple moving average of $57.55 and a 200 day simple moving average of $56.82.

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). The business had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. On average, equities research analysts anticipate that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date was Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.80%. W. P. Carey’s payout ratio is 132.32%.

Insider Activity

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Scotiabank reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. UBS Group upped their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Evercore ISI upped their price target on shares of W. P. Carey from $61.00 to $63.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, Royal Bank of Canada decreased 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 report on Thursday, August 1st. 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 currently has an average rating of “Hold” and an average target price of $60.00.

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.