Commerce Bank Reduces Holdings in W. P. Carey Inc. (NYSE:WPC)

Commerce Bank cut its position in W. P. Carey Inc. (NYSE:WPC) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,353 shares of the real estate investment trust’s stock after selling 268 shares during the quarter. Commerce Bank’s holdings in W. P. Carey were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in W. P. Carey in the 3rd quarter worth $640,000. Napa Wealth Management lifted its stake in shares of W. P. Carey by 19.8% in the third quarter. Napa Wealth Management now owns 4,716 shares of the real estate investment trust’s stock worth $294,000 after acquiring an additional 778 shares in the last quarter. Quest Partners LLC boosted its holdings in W. P. Carey by 747.6% in the third quarter. Quest Partners LLC now owns 108,748 shares of the real estate investment trust’s stock valued at $6,775,000 after purchasing an additional 95,918 shares during the last quarter. Equity Investment Corp grew its stake in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after purchasing an additional 9,610 shares in the last quarter. Finally, Swiss National Bank increased its holdings in W. P. Carey by 0.4% during the 3rd quarter. Swiss National Bank now owns 649,451 shares of the real estate investment trust’s stock worth $40,461,000 after purchasing an additional 2,300 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank decreased their price objective on shares of 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. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Royal Bank of Canada cut their price objective on 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. Eight equities research 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 currently has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Performance

Shares of WPC opened at $57.58 on Tuesday. The firm has a fifty day moving average of $58.95 and a 200-day moving average of $58.23. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) 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 firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. 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 6.08%. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

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.