The Manufacturers Life Insurance Company Has $12.02 Million Position in W. P. Carey Inc. (NYSE:WPC)

The Manufacturers Life Insurance Company increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,869 shares of the real estate investment trust's stock after buying an additional 21,563 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of W. P. Carey worth $12,016,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. HB Wealth Management LLC boosted its holdings in W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust's stock worth $684,000 after buying an additional 8,843 shares during the last quarter. Equity Investment Corp boosted its stake in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock worth $92,305,000 after acquiring an additional 9,610 shares during the last quarter. SG Americas Securities LLC grew its holdings in W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust's stock valued at $9,742,000 after purchasing an additional 46,181 shares during the period. EverSource Wealth Advisors LLC increased its stake in W. P. Carey by 69.5% in the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust's stock valued at $1,319,000 after purchasing an additional 9,353 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust's stock valued at $5,954,000 after purchasing an additional 9,619 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

W. P. Carey stock traded down $0.53 during midday trading on Tuesday, reaching $55.49. 331,653 shares of the company's stock were exchanged, compared to its average volume of 1,202,758. 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 stock's 50-day simple moving average is $58.21 and its 200 day simple moving average is $58.15. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.06 and a beta of 0.96.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $377.43 million. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 EPS. On average, analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 6.31%. W. P. Carey's dividend payout ratio is currently 137.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WPC shares. UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Wells Fargo & Company restated an "equal weight" rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Scotiabank decreased their price objective on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. Finally, Barclays raised their target price 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. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, W. P. Carey presently has a consensus rating of "Hold" and an average price target 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.