W. P. Carey Inc. (NYSE:WPC) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 50.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,572 shares of the real estate investment trust's stock after selling 19,861 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in W. P. Carey were worth $1,219,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in W. P. Carey by 22.2% in the 2nd 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 buying an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust's stock valued at $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of W. P. Carey by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust's stock worth $138,973,000 after buying an additional 7,549 shares in the last quarter. PGGM Investments lifted its stake in shares of W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust's stock valued at $137,569,000 after buying an additional 389,853 shares during the period. Finally, Equity Investment Corp raised its holdings in W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock valued at $92,305,000 after acquiring an additional 9,610 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group dropped their target price on 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. Wells Fargo & Company restated an "equal weight" rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a research note on Thursday, August 1st. Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Finally, Scotiabank reduced their target price 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of "Hold" and a consensus price target of $62.88.

W. P. Carey Stock Performance

WPC stock traded up $0.18 during midday trading on Thursday, reaching $56.77. The company had a trading volume of 113,039 shares, compared to its average volume of 1,206,278. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average price of $59.18 and a 200 day moving average price of $58.22. The firm has a market capitalization of $12.42 billion, a PE ratio of 22.29, a P/E/G ratio of 1.05 and a beta of 0.95. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share 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 analyst estimates of $377.43 million. During the same period last year, the business earned $1.32 EPS. The firm's revenue was down 11.9% on a year-over-year basis. Analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date was Monday, September 30th. W. P. Carey's payout ratio is currently 137.80%.

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.