New Insight Wealth Advisors Has $2.51 Million Stock Holdings in W.P. Carey Inc. (NYSE:WPC)

New Insight Wealth Advisors reduced its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 20.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,750 shares of the real estate investment trust's stock after selling 10,268 shares during the period. W.P. Carey accounts for about 1.1% of New Insight Wealth Advisors' portfolio, making the stock its 23rd largest holding. New Insight Wealth Advisors' holdings in W.P. Carey were worth $2,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Vanguard Group Inc. boosted its holdings in shares of W.P. Carey by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after buying an additional 242,576 shares during the period. Geode Capital Management LLC boosted its holdings in shares of W.P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after buying an additional 135,090 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of W.P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after buying an additional 906,622 shares during the period. Northern Trust Corp boosted its holdings in shares of W.P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after buying an additional 758,627 shares during the period. Finally, Norges Bank bought a new stake in shares of W.P. Carey during the 4th quarter worth about $139,381,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on WPC shares. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. UBS Group reduced their target price on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Barclays set a $61.00 price objective on shares of W.P. Carey and gave the company an "underweight" rating in a report on Wednesday, May 21st. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a report on Monday, June 9th. Finally, Evercore ISI boosted their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, W.P. Carey presently has an average rating of "Hold" and a consensus target price of $100.60.

W.P. Carey Price Performance

Shares of NYSE:WPC traded up $0.33 during midday trading on Friday, hitting $62.81. The stock had a trading volume of 1,142,203 shares, compared to its average volume of 1,162,262. The company's 50-day moving average price is $62.34 and its 200-day moving average price is $60.26. The company has a market capitalization of $13.75 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 6.99 and a beta of 0.78. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. W.P. Carey's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.90 dividend. The ex-dividend date is Monday, June 30th. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.73%. W.P. Carey's payout ratio is presently 185.57%.

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.