Caisse DE Depot ET Placement DU Quebec Buys 114,853 Shares of W.P. Carey Inc. $WPC

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in W.P. Carey Inc. by 20.1%, acquiring an additional 114,853 shares during the first quarter, bringing its total ownership to approximately 0.31%, valued at $43.3 million.
• W.P. Carey's recent earnings report showed an EPS of $1.28, surpassing analysts' expectations, with revenue increasing by 10.5% year-over-year.
• The company has recently increased its quarterly dividend to $0.90, reflecting a yield of 5.5%, indicating strong financial performance.

Caisse DE Depot ET Placement DU Quebec raised its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 20.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 686,142 shares of the real estate investment trust's stock after purchasing an additional 114,853 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.31% of W.P. Carey worth $43,302,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WPC. von Borstel & Associates Inc. bought a new stake in shares of W.P. Carey during the 1st quarter valued at about $26,000. TCTC Holdings LLC lifted its holdings in W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after buying an additional 242 shares during the period. Cheviot Value Management LLC bought a new stake in W.P. Carey during the 1st quarter valued at approximately $37,000. Fourth Dimension Wealth LLC bought a new stake in W.P. Carey during the 4th quarter valued at approximately $44,000. Finally, Quarry LP purchased a new position in shares of W.P. Carey during the 4th quarter worth approximately $50,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of research analyst reports. UBS Group raised their target price on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research report on Monday, June 9th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Evercore ISI increased their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada lifted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $65.67.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $66.06 on Wednesday. The business has a fifty day moving average price of $64.03 and a 200-day moving average price of $62.36. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $14.47 billion, a PE ratio of 43.46, a PEG ratio of 9.62 and a beta of 0.78. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $67.40.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. The company had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

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.

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