Zurcher Kantonalbank Zurich Cantonalbank Buys 11,490 Shares of W. P. Carey Inc. (NYSE:WPC)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,288 shares of the real estate investment trust's stock after acquiring an additional 11,490 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in W. P. Carey were worth $5,812,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WPC. Massmutual Trust Co. FSB ADV grew its holdings in shares of W. P. Carey by 93.1% during 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 buying an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of W. P. Carey by 1,510.0% during 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 buying an additional 453 shares during the last quarter. Quarry LP increased its holdings in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock worth $31,000 after buying an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new position in W. P. Carey in the 2nd quarter worth about $34,000. Finally, EdgeRock Capital LLC bought a new position in W. P. Carey during the 2nd quarter valued at about $39,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Trading Down 0.4 %

Shares of WPC stock traded down $0.21 on Tuesday, reaching $55.81. 1,158,332 shares of the company's stock were exchanged, compared to its average volume of 1,206,448. The company's fifty day simple moving average is $58.21 and its 200 day simple moving average is $58.15. The stock has a market capitalization of $12.21 billion, a PE ratio of 22.05, a P/E/G ratio of 1.06 and a beta of 0.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last posted 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 company had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.27%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is currently 137.80%.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of research reports. Barclays raised their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. 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 research note on Monday, September 16th. Wells Fargo & Company reissued an "equal weight" rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank dropped their price target on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $62.88.

W. P. Carey 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.