CIBC Asset Management Inc Buys 395 Shares of W. P. Carey Inc. (NYSE:WPC)

CIBC Asset Management Inc grew its stake in W. P. Carey Inc. (NYSE:WPC) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,748 shares of the real estate investment trust’s stock after purchasing an additional 395 shares during the period. CIBC Asset Management Inc’s holdings in W. P. Carey were worth $483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WPC. Massmutual Trust Co. FSB ADV boosted its stake in 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 worth $26,000 after buying an additional 231 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP raised its position 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 purchasing an additional 357 shares during the period. Lynx Investment Advisory bought a new stake in W. P. Carey in the second quarter worth about $34,000. Finally, Maia Wealth LLC purchased a new position in shares of W. P. Carey during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WPC. Scotiabank dropped their price objective 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. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Evercore ISI boosted their price objective on shares of 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. Barclays raised their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, UBS Group lowered their price target 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.88.

W. P. Carey Stock Performance

Shares of NYSE:WPC opened at $56.96 on Friday. The firm has a 50 day moving average of $59.08 and a 200 day moving average of $58.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $12.46 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.95. 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) last announced 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 return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal 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 dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.15%. W. P. Carey’s dividend 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.