Wambolt & Associates LLC Sells 1,026 Shares of W. P. Carey Inc. (NYSE:WPC)

Wambolt & Associates LLC cut its position in shares of W. P. Carey Inc. (NYSE:WPC) by 14.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,190 shares of the real estate investment trust’s stock after selling 1,026 shares during the quarter. Wambolt & Associates LLC’s holdings in W. P. Carey were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. bought a new stake in shares of W. P. Carey during the 2nd quarter valued at $524,000. American Century Companies Inc. lifted its position in W. P. Carey by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 63,802 shares of the real estate investment trust’s stock valued at $3,512,000 after acquiring an additional 4,766 shares during the period. LPL Financial LLC boosted its stake in W. P. Carey by 6.0% during the second quarter. LPL Financial LLC now owns 767,971 shares of the real estate investment trust’s stock worth $42,277,000 after acquiring an additional 43,264 shares in the last quarter. Andra AP fonden grew its holdings in W. P. Carey by 19.9% in the second quarter. Andra AP fonden now owns 62,900 shares of the real estate investment trust’s stock worth $3,463,000 after purchasing an additional 10,450 shares during the period. Finally, Royal London Asset Management Ltd. increased its stake in shares of W. P. Carey by 6.8% during the second quarter. Royal London Asset Management Ltd. now owns 112,189 shares of the real estate investment trust’s stock valued at $6,176,000 after purchasing an additional 7,104 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction on Friday, August 9th. The stock was acquired at an average cost 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 in the company, valued at $2,129,987.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on WPC. Evercore ISI boosted their price target on W. P. Carey from $61.00 to $63.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Wells Fargo & Company increased their target price on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. 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. Scotiabank cut 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. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $60.00.

W. P. Carey Trading Up 0.1 %

NYSE:WPC opened at $62.21 on Friday. The company has a 50 day simple moving average of $58.66 and a two-hundred day simple moving average of $57.10. The company has a market cap of $13.61 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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 firm had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. Research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

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.