BTC Capital Management Inc. Purchases 678 Shares of W. P. Carey Inc. (NYSE:WPC)

BTC Capital Management Inc. grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 15.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,068 shares of the real estate investment trust’s stock after purchasing an additional 678 shares during the quarter. BTC Capital Management Inc.’s holdings in W. P. Carey were worth $279,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of W. P. Carey during the fourth quarter worth approximately $157,107,000. Russell Investments Group Ltd. lifted its stake in W. P. Carey by 99.7% in the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock worth $22,810,000 after purchasing an additional 175,347 shares during the last quarter. Principal Securities Inc. purchased a new stake in W. P. Carey during the fourth quarter valued at about $951,000. M&T Bank Corp grew its stake in shares of W. P. Carey by 2.7% during the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock valued at $2,024,000 after buying an additional 825 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of W. P. Carey by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after buying an additional 9,324 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 2.1 %

NYSE WPC traded up $1.20 during trading hours on Monday, reaching $58.43. 217,523 shares of the company’s stock traded hands, compared to its average volume of 1,285,067. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90. The firm has a 50-day simple moving average of $56.80 and a 200 day simple moving average of $56.83. The firm has a market cap of $12.79 billion, a PE ratio of 22.19, a PEG ratio of 1.07 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the previous year, the business posted $1.36 earnings per share. W. P. Carey’s revenue for the quarter was down 13.9% on a year-over-year basis. Sell-side analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.87 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 5.96%. W. P. Carey’s payout ratio is presently 132.32%.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WPC has been the subject of several analyst reports. Scotiabank dropped their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. JPMorgan Chase & Co. dropped their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $60.91.

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.