W. P. Carey Inc. (NYSE:WPC) Shares Bought by M&T Bank Corp

M&T Bank Corp increased its position in W. P. Carey Inc. (NYSE:WPC) by 2.7% during the fourth quarter, Holdings Channel reports. The fund owned 31,191 shares of the real estate investment trust’s stock after purchasing an additional 825 shares during the quarter. M&T Bank Corp’s holdings in W. P. Carey were worth $2,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Central Bank & Trust Co. bought a new position in shares of W. P. Carey in the fourth quarter worth $28,000. FNY Investment Advisers LLC acquired a new stake in W. P. Carey in the fourth quarter worth about $32,000. Covestor Ltd grew its position in W. P. Carey by 316.5% in the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 595 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in W. P. Carey during the 3rd quarter valued at about $45,000. Finally, Provence Wealth Management Group bought a new stake in shares of W. P. Carey during the 3rd quarter worth about $46,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WPC. Barclays began coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective for the company. Wells Fargo & Company lowered their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada decreased their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Scotiabank dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Finally, Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $63.18.

W. P. Carey Stock Performance

W. P. Carey stock opened at $57.86 on Friday. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.38. The firm’s 50 day simple moving average is $56.04 and its 200-day simple moving average is $58.94. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $12.66 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last announced its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. As a group, equities research analysts predict that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.865 per share. This represents a $3.46 annualized dividend and a yield of 5.98%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s payout ratio is presently 131.56%.

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.