Royal Fund Management LLC Trims Stock Position in W. P. Carey Inc. (NYSE:WPC)

Royal Fund Management LLC decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 13.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,099 shares of the real estate investment trust’s stock after selling 1,957 shares during the quarter. Royal Fund Management LLC’s holdings in W. P. Carey were worth $667,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Prairiewood Capital LLC boosted its position in shares of W. P. Carey by 7.8% in the 2nd quarter. Prairiewood Capital LLC now owns 63,754 shares of the real estate investment trust’s stock valued at $3,510,000 after purchasing an additional 4,594 shares during the period. Cordatus Wealth Management LLC grew its position in shares of W. P. Carey by 8.8% during the second quarter. Cordatus Wealth Management LLC now owns 4,747 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 384 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of W. P. Carey by 18.4% during the second quarter. Cornerstone Wealth Management LLC now owns 21,947 shares of the real estate investment trust’s stock worth $1,208,000 after acquiring an additional 3,417 shares during the last quarter. PGGM Investments raised its position in 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 valued at $137,569,000 after purchasing an additional 389,853 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in W. P. Carey during the 2nd quarter worth $100,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.6 %

Shares of WPC traded up $0.33 during mid-day trading on Friday, hitting $57.23. The company had a trading volume of 764,442 shares, compared to its average volume of 1,291,821. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The business’s 50-day simple moving average is $56.80 and its 200-day simple moving average is $56.90. The stock has a market cap of $12.52 billion, a PE ratio of 21.76, a P/E/G ratio of 1.07 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last announced 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 company had revenue of $389.70 million during the quarter, compared to analyst estimates 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 for the quarter was down 13.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 EPS. Sell-side analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.87 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 6.08%. The ex-dividend date was Friday, June 28th. W. P. Carey’s payout ratio is currently 132.32%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of 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 dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. UBS Group boosted their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. reduced their price objective 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, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.91.

Insiders Place Their Bets

In other news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought 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 approximately $2,129,987.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.08% of the stock is currently owned by 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.