M&T Bank Corp Sells 650 Shares of W. P. Carey Inc. (NYSE:WPC)

M&T Bank Corp lessened its position in shares of W. P. Carey Inc. (NYSE:WPC) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,455 shares of the real estate investment trust’s stock after selling 650 shares during the period. M&T Bank Corp’s holdings in W. P. Carey were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after purchasing an additional 588,636 shares during the period. Dimensional Fund Advisors LP increased its stake in W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after acquiring an additional 204,064 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after acquiring an additional 103,147 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of W. P. Carey by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after acquiring an additional 7,549 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of W. P. Carey by 660.9% during the third 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 worth $127,969,000 after purchasing an additional 1,784,131 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Up 2.1 %

WPC opened at $57.02 on Friday. The company has a market cap of $12.48 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The business’s 50-day moving average price is $57.15 and its 200-day moving average price is $58.01. 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 (NYSE:WPC) last released its quarterly earnings data 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 net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period last year, the company posted $1.32 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities analysts expect that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 138.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WPC. Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays increased their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, UBS Group cut their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey has an average rating of “Hold” and an average target price of $62.88.

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.