National Bank of Canada FI Sells 175,100 Shares of W. P. Carey Inc. (NYSE:WPC)

National Bank of Canada FI reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 75.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,922 shares of the real estate investment trust's stock after selling 175,100 shares during the period. National Bank of Canada FI's holdings in W. P. Carey were worth $3,484,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock worth $127,969,000 after acquiring an additional 1,784,131 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 valued at $178,401,000 after purchasing an additional 588,636 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of W. P. Carey by 649.4% in the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust's stock worth $34,507,000 after purchasing an additional 479,973 shares during the period. Hsbc Holdings PLC lifted its position in shares of W. P. Carey by 185.7% during the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust's stock worth $37,631,000 after purchasing an additional 444,785 shares during the last quarter. Finally, Equity Investment Corp boosted its stake in W. P. Carey by 38.9% during the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust's stock valued at $81,035,000 after purchasing an additional 412,450 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Price Performance

Shares of NYSE:WPC traded up $1.17 during midday trading on Friday, reaching $57.02. 1,204,345 shares of the company's stock were exchanged, compared to its average volume of 1,206,672. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The company's 50 day simple moving average is $57.15 and its two-hundred day simple moving average is $57.99. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The firm has a market capitalization of $12.48 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 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 business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the business earned $1.32 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts expect that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.17%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is 138.58%.

Wall Street Analyst Weigh In

WPC has been the topic of several recent analyst reports. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays upped their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Finally, Evercore ISI boosted their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey has a consensus rating of "Hold" and an average 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.