Canada Pension Plan Investment Board Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

Canada Pension Plan Investment Board grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,851 shares of the real estate investment trust’s stock after purchasing an additional 44,322 shares during the period. Canada Pension Plan Investment Board owned approximately 0.27% of W. P. Carey worth $32,141,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC grew its position 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 buying an additional 8,843 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of W. P. Carey by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after purchasing an additional 9,324 shares during the last quarter. QRG Capital Management Inc. raised its stake in W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after purchasing an additional 9,619 shares in the last quarter. American International Group Inc. lifted its position in W. P. Carey by 16,416.8% during the fourth quarter. American International Group Inc. now owns 295,320 shares of the real estate investment trust’s stock valued at $19,140,000 after purchasing an additional 293,532 shares during the last quarter. Finally, Royal Fund Management LLC grew its stake in W. P. Carey by 7.4% in the 1st quarter. Royal Fund Management LLC now owns 14,056 shares of the real estate investment trust’s stock worth $793,000 after buying an additional 971 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

W. P. Carey stock opened at $62.24 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The firm has a market cap of $13.62 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.16 and a beta of 0.94. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The firm has a 50-day moving average of $59.52 and a 200-day moving average of $57.41.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share 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 the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. W. P. Carey’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. Sell-side analysts expect that W. P. Carey Inc. will post 4.52 EPS 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. Stockholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.62%. W. P. Carey’s payout ratio is presently 132.32%.

Insider Activity

In related news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.08% of the company’s stock.

Analysts Set New Price Targets

WPC has been the subject of a number of research analyst reports. Scotiabank dropped their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. UBS Group lifted their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company upped their target price on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. lowered 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 report on Friday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.