W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 185.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 684,355 shares of the real estate investment trust’s stock after acquiring an additional 444,785 shares during the period. Hsbc Holdings PLC owned approximately 0.31% of W. P. Carey worth $37,631,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WPC. Gilbert & Cook Inc. grew its stake in shares of W. P. Carey by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 314 shares during the period. Norges Bank acquired a new position in W. P. Carey during the fourth quarter worth about $157,107,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of W. P. Carey by 5.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,566 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 346 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of W. P. Carey by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,999 shares of the real estate investment trust’s stock worth $2,463,000 after acquiring an additional 2,104 shares during the period. Finally, Assetmark Inc. increased its stake in W. P. Carey by 16.2% in the 4th quarter. Assetmark Inc. now owns 9,122 shares of the real estate investment trust’s stock valued at $591,000 after purchasing an additional 1,273 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.08% of the stock is currently owned by insiders.

W. P. Carey Trading Down 1.3 %

Shares of W. P. Carey stock opened at $62.32 on Friday. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40. The business’s fifty day moving average is $59.52 and its two-hundred day moving average is $57.41. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The firm has a market cap of $13.64 billion, a PE ratio of 23.70, a P/E/G ratio of 1.16 and a beta of 0.94.

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

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 5.62%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, September 30th. W. P. Carey’s payout ratio is presently 132.32%.

Analyst Ratings Changes

A number of analysts have commented on WPC shares. UBS Group boosted their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Evercore ISI upped their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Scotiabank cut their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.30.

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.