W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 185.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 684,355 shares of the real estate investment trust’s stock after acquiring an additional 444,785 shares during the quarter. Hsbc Holdings PLC’s holdings in W. P. Carey were worth $37,631,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WPC. Norges Bank acquired a new position in shares of W. P. Carey during the 4th quarter valued at $157,107,000. HB Wealth Management LLC raised its position in W. P. Carey by 247.3% in the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of W. P. Carey by 2.1% during 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 purchasing an additional 9,324 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of W. P. Carey by 5.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,566 shares of the real estate investment trust’s stock worth $426,000 after buying an additional 346 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after buying an additional 9,619 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Down 1.3 %

Shares of W. P. Carey stock opened at $62.32 on Friday. The business has a 50-day moving average price of $59.52 and a 200 day moving average price of $57.41. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.40. The firm has a market cap of $13.64 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter last year, the firm posted $1.36 earnings per share. W. P. Carey’s revenue was down 13.9% compared to the same quarter last year. On average, sell-side analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.875 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 5.62%. W. P. Carey’s payout ratio is 132.32%.

Analyst Ratings Changes

Several research firms recently commented on WPC. Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI upped 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 lifted their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. UBS Group upped their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada dropped their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.30.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at $2,129,987.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.08% of the company’s stock.

About W. P. Carey

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.