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

Perennial Investment Advisors LLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,556 shares of the real estate investment trust’s stock after purchasing an additional 741 shares during the quarter. Perennial Investment Advisors LLC’s holdings in W. P. Carey were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WPC. Richardson Financial Services Inc. acquired a new stake in W. P. Carey during the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV grew its stake in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares in the last quarter. Riverview Trust Co acquired a new position in shares of W. P. Carey in the 1st quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of W. P. Carey in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $55.87 per share, with a total value of $195,545.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WPC. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. JPMorgan Chase & Co. decreased their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, UBS Group lifted their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.30.

W. P. Carey Stock Down 1.1 %

Shares of W. P. Carey stock opened at $63.24 on Wednesday. The business’s fifty day moving average price is $59.00 and its two-hundred day moving average price is $57.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market capitalization of $13.84 billion, a P/E ratio of 24.05, a PEG 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.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.47). The business had revenue of $389.70 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. As a group, research analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

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.