W. P. Carey Inc. (NYSE:WPC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 8.4% during the second quarter, Holdings Channel.com reports. The firm owned 20,965 shares of the real estate investment trust’s stock after selling 1,919 shares during the quarter. Toronto Dominion Bank’s holdings in W. P. Carey were worth $1,154,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WPC. Richardson Financial Services Inc. purchased a new position in shares of W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew its stake in W. P. Carey by 93.1% during the 2nd 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 last quarter. Allspring Global Investments Holdings LLC grew its stake 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 worth $27,000 after buying an additional 453 shares during the last quarter. Riverview Trust Co purchased a new position in W. P. Carey during the 1st quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in W. P. Carey during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WPC. JPMorgan Chase & Co. dropped their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank decreased their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company increased their price objective on W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Eight equities research 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 company has a consensus rating of “Hold” and an average target price of $61.13.

Insider Buying and Selling

In other news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.08% of the stock is currently owned by insiders.

W. P. Carey Stock Down 0.7 %

WPC opened at $62.31 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The business has a 50 day simple moving average of $59.98 and a 200-day simple moving average of $57.66. The stock has a market capitalization of $13.63 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.18 and a beta of 0.94. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). The business had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.875 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 5.62%. W. P. Carey’s payout ratio is currently 133.08%.

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.