2 weeks Ago By ABMN Staff
Susquehanna Portfolio Strategies LLC cut its stake in shares of W. P. Carey Inc.
( NYSE:WPC – Free Report ) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,800 shares of the real estate investment trust’s stock after selling 7,040 shares during the quarter.
Susquehanna Portfolio Strategies LLC’s holdings in W. P. Carey were worth $4,338,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in WPC. Vanguard Group Inc. lifted its position in shares of W.
P. Carey by 0.6% during the 1st quarter.
Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after acquiring an additional 187,022 shares during the period. Cohen & Steers Inc.
raised its holdings in 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 last quarter.
Massachusetts Financial Services Co. MA boosted its position in W. P.
Carey by 22.2% during the second 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 purchasing an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in W. P.
Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares during the last quarter.
Finally, Bank of New York Mellon Corp increased its position in shares of W. P. Carey by 0.
3% in the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after buying an additional 7,549 shares in the last quarter. Hedge funds and other institutional investors own 73.
73% of the company’s stock. W. P.
Carey Price Performance Shares of WPC opened at $62.74 on Friday. 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 firm has a market cap of $13.73 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.
18 and a beta of 0.94. W.
P. Carey Inc. has a 52 week low of $51.
36 and a 52 week high of $67.40. The stock has a 50 day moving average of $59.
92 and a 200-day moving average of $57.60. W.
P. Carey Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.
875 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.
50 annualized dividend and a yield of 5.58%. This is an increase from W.
P. Carey’s previous quarterly dividend of $0.87.
W. P. Carey’s payout ratio is presently 133.
08%. Insiders Place Their Bets In related news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th.
The shares were acquired at an average cost 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 in the company, valued at $2,129,987.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink .
1.08% of the stock is currently owned by insiders. Analyst Upgrades and Downgrades A number of research analysts have recently weighed in on WPC shares.
Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.
00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. UBS Group boosted 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 report on Thursday, July 18th. Evercore ISI raised their target price on shares of W. P.
Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th.
JPMorgan Chase & Co. cut their price target 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 research note on Friday, June 21st.
Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.13.
Get Our Latest Stock Analysis on WPC W. P. Carey Company Profile ( Free Report ) 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. See Also Receive News & Ratings for W.
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