Presima Securities ULC Increases Holdings in W. P. Carey Inc. (NYSE:WPC)

Presima Securities ULC increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 6.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 33,300 shares of the real estate investment trust’s stock after purchasing an additional 2,100 shares during the period. W. P. Carey accounts for 0.5% of Presima Securities ULC’s investment portfolio, making the stock its 28th largest position. Presima Securities ULC’s holdings in W. P. Carey were worth $2,075,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of W. P. Carey by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after buying an additional 187,022 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 valued at $178,401,000 after acquiring an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in W. P. Carey by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after acquiring an additional 204,064 shares during the period. Bank of New York Mellon Corp lifted its stake in W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after purchasing an additional 7,549 shares in the last quarter. Finally, PGGM Investments boosted its holdings 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 period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $59.93 on Thursday. The stock’s 50-day moving average is $60.40 and its 200 day moving average is $58.00. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a 1-year low of $51.60 and a 1-year high of $67.40. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same period last year, the business posted $1.36 earnings per share. The company’s revenue was down 13.9% compared to the same quarter last year. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 5.84%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 133.08%.

Insider Activity

In related news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Scotiabank decreased their price objective on shares of 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. Finally, Evercore ISI lifted their target price on shares of 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $63.25.

W. P. Carey 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.