Employees Retirement System of Texas Acquires New Holdings in W. P. Carey Inc. (NYSE:WPC)

Employees Retirement System of Texas purchased a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,000 shares of the real estate investment trust’s stock, valued at approximately $2,863,000.

Other institutional investors also recently made changes to their positions in the company. APG Asset Management N.V. grew its stake in W. P. Carey by 185.1% in the 2nd quarter. APG Asset Management N.V. now owns 26,647 shares of the real estate investment trust’s stock worth $1,369,000 after acquiring an additional 17,300 shares during the period. AXA S.A. increased its position in shares of W. P. Carey by 84.0% in the 2nd quarter. AXA S.A. now owns 104,572 shares of the real estate investment trust’s stock worth $5,757,000 after purchasing an additional 47,744 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of W. P. Carey in the 2nd quarter valued at approximately $421,000. Cubist Systematic Strategies LLC acquired a new stake in shares of W. P. Carey during the second quarter worth $4,866,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in W. P. Carey by 60.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,879 shares of the real estate investment trust’s stock worth $2,305,000 after acquiring an additional 15,771 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by company insiders.

W. P. Carey Stock Up 0.4 %

WPC stock opened at $62.84 on Friday. 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 business’s 50 day simple moving average is $59.85 and its 200 day simple moving average is $57.57. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The firm has a market capitalization of $13.75 billion, a PE ratio of 23.89, a PEG ratio of 1.18 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last issued its quarterly 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 company 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%. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 EPS. As a group, research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date of this dividend is Monday, September 30th. W. P. Carey’s payout ratio is presently 133.08%.

Analysts Set New Price Targets

WPC has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Evercore ISI increased their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company lifted their price target on W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Royal Bank of Canada lowered their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Scotiabank reduced 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 research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.13.

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.