Public Sector Pension Investment Board Has $1.78 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Public Sector Pension Investment Board lifted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 29.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,520 shares of the real estate investment trust’s stock after acquiring an additional 6,560 shares during the quarter. Public Sector Pension Investment Board’s holdings in W. P. Carey were worth $1,777,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of W. P. Carey by 660.9% during 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 valued at $127,969,000 after acquiring an additional 1,784,131 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of W. P. Carey by 22.2% during 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 acquiring an additional 588,636 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in W. P. Carey by 649.4% during the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after buying an additional 479,973 shares during the period. Hsbc Holdings PLC lifted its holdings in 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 buying an additional 444,785 shares during the period. Finally, Equity Investment Corp lifted its holdings 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 worth $81,035,000 after buying an additional 412,450 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on WPC shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. 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 report on Thursday, November 14th. Finally, Evercore ISI lifted their target price 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. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Performance

WPC stock opened at $55.90 on Friday. The stock has a 50-day moving average price of $57.79 and a 200-day moving average price of $58.09. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. 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 firm has a market cap of $12.23 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last issued its 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 net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, equities research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.26%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is presently 137.80%.

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.