TD Asset Management Inc Cuts Stake in W.P. Carey Inc. $WPC

TD Asset Management Inc lowered its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 42,093 shares of the real estate investment trust’s stock after selling 324 shares during the period. TD Asset Management Inc’s holdings in W.P. Carey were worth $2,626,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WPC. von Borstel & Associates Inc. purchased a new stake in shares of W.P. Carey during the first quarter worth about $26,000. TCTC Holdings LLC grew its holdings in W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 242 shares in the last quarter. Cheviot Value Management LLC purchased a new position in W.P. Carey during the 1st quarter valued at approximately $37,000. V Square Quantitative Management LLC purchased a new position in W.P. Carey during the 2nd quarter valued at approximately $40,000. Finally, REAP Financial Group LLC grew its holdings in W.P. Carey by 56.4% during the 2nd quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Price Performance

NYSE:WPC opened at $67.48 on Wednesday. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 9.93 and a beta of 0.81. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.79. The business has a 50 day simple moving average of $67.31 and a 200-day simple moving average of $63.97. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same period last year, the company earned $1.17 EPS. W.P. Carey’s quarterly revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is 239.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI raised their price target on W.P. Carey from $66.00 to $70.00 and gave the company an “in-line” rating in a report on Monday, September 15th. UBS Group raised their price target on W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Scotiabank raised their price target on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. Royal Bank Of Canada raised their price target on W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $67.44.

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.