PSI Advisors LLC Has $39,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

PSI Advisors LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 61.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 709 shares of the real estate investment trust’s stock after selling 1,136 shares during the period. PSI Advisors LLC’s holdings in W. P. Carey were worth $39,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WPC. Cohen & Steers Inc. increased its holdings in shares of W. P. Carey by 91.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after purchasing an additional 5,407,289 shares during the period. Norges Bank bought a new position in shares of W. P. Carey during the fourth quarter worth approximately $157,107,000. Equity Investment Corp bought a new position in shares of W. P. Carey during the first quarter worth approximately $59,802,000. Principal Financial Group Inc. increased its holdings in shares of W. P. Carey by 4,716.5% during the fourth quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock worth $52,005,000 after purchasing an additional 785,766 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of W. P. Carey by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after purchasing an additional 657,188 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WPC. 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. 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 on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of 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. UBS Group lifted their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.91.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $58.73 on Friday. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90. The firm has a market capitalization of $12.85 billion, a P/E ratio of 22.33, a P/E/G ratio of 1.07 and a beta of 0.92. The company’s 50 day moving average price is $57.03 and its two-hundred day moving average price is $56.80.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The business had revenue of $389.70 million for 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%. 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 posted $1.36 EPS. On average, equities analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared 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. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date was Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 132.32%.

Insider Transactions at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.08% of the stock is owned by company insiders.

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.