Public Sector Pension Investment Board Purchases 924 Shares of W. P. Carey Inc. (NYSE:WPC)

Public Sector Pension Investment Board boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,960 shares of the real estate investment trust’s stock after purchasing an additional 924 shares during the period. Public Sector Pension Investment Board’s holdings in W. P. Carey were worth $1,209,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WPC. Cohen & Steers Inc. lifted its position in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after buying an additional 5,407,289 shares during the last quarter. Equity Investment Corp bought a new position in W. P. Carey in the first quarter valued at about $59,802,000. Vanguard Group Inc. raised its stake in W. P. Carey by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after acquiring an additional 657,188 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after acquiring an additional 588,636 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after purchasing an additional 444,785 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

NYSE:WPC opened at $61.32 on Wednesday. The company has a market capitalization of $13.42 billion, a PE ratio of 23.32, a P/E/G ratio of 1.18 and a beta of 0.94. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week 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 company has a 50 day simple moving average of $59.98 and a two-hundred day simple moving average of $57.66.

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 firm had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same period in the prior year, the business earned $1.36 EPS. W. P. Carey’s quarterly revenue was down 13.9% on a year-over-year basis. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.875 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 5.71%. W. P. Carey’s payout ratio is 133.08%.

Insider Transactions at W. P. Carey

In related news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.08% of the company’s stock.

Analyst Ratings Changes

WPC has been the subject of a number of research analyst reports. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday. Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Eight research 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 $61.25.

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.