National Bank of Canada FI Has $3.48 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

National Bank of Canada FI reduced its position in shares of W. P. Carey Inc. (NYSE:WPC) by 75.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,922 shares of the real estate investment trust’s stock after selling 175,100 shares during the quarter. National Bank of Canada FI’s holdings in W. P. Carey were worth $3,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of W. P. Carey by 1,510.0% during 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 buying an additional 453 shares during the last quarter. Quarry LP increased its holdings in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares in the last quarter. EdgeRock Capital LLC bought a new stake in W. P. Carey during the 2nd quarter worth approximately $39,000. Maia Wealth LLC purchased a new stake in shares of W. P. Carey in the third quarter worth approximately $40,000. Finally, Ridgewood Investments LLC bought a new position in shares of W. P. Carey in the second quarter valued at approximately $41,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 2.1 %

W. P. Carey stock opened at $57.02 on Friday. The firm has a 50 day moving average price of $57.15 and a 200-day moving average price of $57.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The company has a market capitalization of $12.48 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the prior year, the business earned $1.32 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, equities analysts predict that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date is Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI increased their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Barclays boosted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group decreased their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.88.

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.