W. P. Carey Inc. (NYSE:WPC) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 138.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 306,304 shares of the real estate investment trust's stock after buying an additional 177,617 shares during the period. BNP Paribas Financial Markets owned about 0.14% of W. P. Carey worth $19,083,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV grew its position in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 172 shares during the period. Catalytic Wealth RIA LLC boosted its holdings in W. P. Carey by 5.2% in the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust's stock worth $222,000 after buying an additional 198 shares during the last quarter. Kowal Investment Group LLC boosted its holdings in W. P. Carey by 3.4% in the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust's stock worth $334,000 after buying an additional 199 shares during the last quarter. Harbour Investments Inc. lifted its stake in W. P. Carey by 5.9% in the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock worth $226,000 after purchasing an additional 203 shares in the last quarter. Finally, Creative Planning lifted its stake in W. P. Carey by 0.3% in the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock worth $4,031,000 after purchasing an additional 207 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company reissued an "equal weight" rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. UBS Group cut their target price 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. Evercore ISI boosted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Finally, Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $62.88.

W. P. Carey Stock Down 0.8 %

Shares of WPC stock traded down $0.45 on Friday, reaching $57.06. 762,731 shares of the stock were exchanged, compared to its average volume of 1,084,923. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The business's 50 day moving average price is $58.36 and its 200 day moving average price is $58.18. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the prior year, the company earned $1.32 EPS. The business's revenue was down 11.9% on a year-over-year basis. As a group, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.13%. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey's dividend payout ratio is presently 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.