1 week Ago By ABMN Staff
National Bank of Canada FI boosted its stake in shares of W. P. Carey Inc.
( NYSE:WPC – Free Report ) by 26,546.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 231,022 shares of the real estate investment trust’s stock after acquiring an additional 230,155 shares during the quarter.
National Bank of Canada FI’s holdings in W. P. Carey were worth $12,621,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. Richardson Financial Services Inc. purchased a new position in shares of W.
P. Carey in the first quarter valued at approximately $26,000. Massmutual Trust Co.
FSB ADV boosted its stake in shares of W. P. Carey by 93.
1% in 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 period.
First United Bank & Trust purchased a new position in shares of W. P. Carey in the fourth quarter valued at approximately $27,000.
Allspring Global Investments Holdings LLC raised its holdings 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 acquiring an additional 453 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in W.
P. Carey in the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 73.
73% of the company’s stock. Analyst Upgrades and Downgrades Several analysts recently weighed in on the stock. JPMorgan Chase & Co.
reduced their target price on shares of W. P. Carey from $70.
00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. UBS Group raised their price objective on shares of W.
P. Carey from $57.00 to $63.
00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Evercore ISI raised their price objective on shares of W. P.
Carey from $61.00 to $63.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th.
Royal Bank of Canada cut their target price on shares of W. P. Carey from $63.
00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, Scotiabank cut their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.
com, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $60.
00. Insider Activity In other news, Director Mark A. Alexander bought 3,500 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link .
Corporate insiders own 1.08% of the company’s stock. W.
P. Carey Trading Up 1.2 % NYSE:WPC opened at $61.
48 on Friday. The stock has a fifty day simple moving average of $58.08 and a 200-day simple moving average of $56.
95. W. P.
Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.
40. The company has a market capitalization of $13.45 billion, a PE ratio of 23.
38, a price-to-earnings-growth ratio of 1.12 and a beta of 0.94.
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 – Get Free Report ) last announced its 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 net margin of 34.83% and a return on equity of 6.
50%. The firm 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 firm posted $1.36 EPS.
The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. On average, equities research analysts expect that W.
P. Carey Inc. will post 4.
53 earnings per share for the current fiscal year. W. P.
Carey Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.87 per share.
The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.
66%. This is an increase from W. P.
Carey’s previous quarterly dividend of $0.87. W.
P. Carey’s dividend payout ratio is currently 132.32%.
W. P. Carey Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding WPC? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for W. P. Carey Inc.
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