Bank of Montreal Can Has $1.87 Million Position in W. P. Carey Inc. (NYSE:WPC)

Bank of Montreal Can boosted its position in W. P. Carey Inc. (NYSE:WPC) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,811 shares of the real estate investment trust’s stock after buying an additional 2,659 shares during the quarter. Bank of Montreal Can’s holdings in W. P. Carey were worth $1,871,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new position in shares of W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV boosted its position in W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares in the last quarter. Riverview Trust Co acquired a new position in shares of W. P. Carey during the 1st quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of W. P. Carey during the 1st quarter worth approximately $30,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WPC. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday. UBS Group boosted their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Scotiabank cut 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 research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on 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. Finally, Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. 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, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $61.25.

W. P. Carey Trading Down 1.2 %

Shares of WPC stock opened at $60.25 on Friday. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The company has a market capitalization of $13.18 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. The firm has a 50 day moving average price of $60.12 and a two-hundred day moving average price of $57.74. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last released its quarterly 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). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same period in the previous year, the business posted $1.36 earnings per share. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, analysts predict that W. P. Carey Inc. will post 4.52 earnings per share 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. Stockholders of record on Monday, September 30th will be given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is presently 133.08%.

Insider Activity at W. P. Carey

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 stock was acquired at an average price of $55.87 per share, for a total transaction 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

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.