BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $2.31 Million Position in W. P. Carey Inc. (NYSE:WPC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 60.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,879 shares of the real estate investment trust’s stock after buying an additional 15,771 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in W. P. Carey were worth $2,305,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Catalytic Wealth RIA LLC lifted its stake in shares of W. P. Carey by 5.2% during the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 198 shares during the period. Kowal Investment Group LLC boosted its stake in shares of W. P. Carey by 3.4% in the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 199 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of W. P. Carey by 6.2% in the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 208 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of W. P. Carey by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 209 shares during the period. Finally, Cooper Financial Group lifted its holdings in W. P. Carey by 2.1% in the second quarter. Cooper Financial Group now owns 10,881 shares of the real estate investment trust’s stock valued at $599,000 after buying an additional 224 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

Shares of WPC opened at $62.74 on Friday. The firm has a market cap of $13.73 billion, a P/E ratio of 23.86, a PEG ratio of 1.18 and a beta of 0.94. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40. 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 firm’s 50 day moving average price is $59.92 and its two-hundred day moving average price is $57.60.

W. P. Carey (NYSE:WPC) last announced its earnings results 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). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same period in the previous year, the company posted $1.36 earnings per share. W. P. Carey’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.875 per share. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 5.58%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 133.08%.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Scotiabank lowered their target price 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. JPMorgan Chase & Co. dropped their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. UBS Group raised their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada lowered their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Eight investment analysts have rated the stock with a hold rating and two have assigned 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 $61.13.

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.