National Bank of Canada FI Boosts Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

National Bank of Canada FI lifted its position in W. P. Carey Inc. (NYSE:WPC) by 26,546.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 231,022 shares of the real estate investment trust’s stock after buying an additional 230,155 shares during the period. National Bank of Canada FI owned approximately 0.11% of W. P. Carey worth $12,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WPC. Richardson Financial Services Inc. purchased a new position in shares of W. P. Carey in the 1st quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV grew its position 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 worth $26,000 after purchasing an additional 231 shares during the last quarter. First United Bank & Trust purchased a new stake in W. P. Carey during the 4th quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its position in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in W. P. Carey during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

NYSE:WPC opened at $61.48 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The company has a fifty day moving average of $58.08 and a two-hundred day moving average of $56.95. The stock has a market capitalization of $13.45 billion, a PE ratio of 23.38, a P/E/G ratio of 1.12 and a beta of 0.94. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The business had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey’s quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. As a group, research analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.66%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, June 28th. W. P. Carey’s dividend payout ratio is 132.32%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research 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. Scotiabank dropped 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 report on Wednesday, August 7th. 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 on the stock in a report on Thursday, August 1st. Finally, Evercore ISI upped their price objective on shares of W. P. Carey from $61.00 to $63.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $60.00.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is currently owned by insiders.

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.