BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stake in W. P. Carey Inc. (NYSE:WPC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 12.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 36,506 shares of the real estate investment trust’s stock after selling 5,373 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in W. P. Carey were worth $2,274,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its stake in W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 8,843 shares during the last quarter. Equity Investment Corp increased its holdings in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after purchasing an additional 9,610 shares during the period. SG Americas Securities LLC increased its holdings in W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after purchasing an additional 46,181 shares during the period. EverSource Wealth Advisors LLC increased its holdings in W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 9,353 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of W. P. Carey by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after acquiring an additional 9,619 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WPC. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank lowered their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Barclays increased their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Trading Down 0.1 %

Shares of WPC stock opened at $55.74 on Thursday. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock’s 50-day moving average price is $57.93 and its 200-day moving average price is $58.10. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. Equities research analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is presently 137.80%.

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.