W. P. Carey Inc. (NYSE:WPC) Shares Bought by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 10.9% during the 2nd quarter, Holdings Channel reports. The firm owned 7,556 shares of the real estate investment trust’s stock after purchasing an additional 741 shares during the period. Perennial Investment Advisors LLC’s holdings in W. P. Carey were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WPC. Cohen & Steers Inc. increased its position in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after purchasing an additional 5,407,289 shares during the period. Norges Bank acquired a new position in shares of W. P. Carey in the 4th quarter worth $157,107,000. Equity Investment Corp acquired a new position in shares of W. P. Carey in the 1st quarter worth $59,802,000. Vanguard Group Inc. grew its holdings in shares of W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after acquiring an additional 657,188 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after acquiring an additional 588,636 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WPC shares. 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. Royal Bank of Canada decreased their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company lifted their target price on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. lowered their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.30.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.08% of the company’s stock.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $63.24 on Wednesday. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.16 and a beta of 0.94. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $67.40. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $59.00 and a 200 day simple moving average of $57.24.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results 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 firm had revenue of $389.70 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.36 earnings per share. As a group, sell-side analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Company 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.