Ontario Teachers Pension Plan Board Has $6.49 Million Position in W.P. Carey Inc. (NYSE:WPC)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in W.P. Carey Inc. by 82.3% during the first quarter, bringing their total holdings to 102,798 shares valued at approximately $6.49 million.
• W.P. Carey recently reported an earnings per share (EPS) of $1.28, exceeding analysts' estimates and achieving a 10.5% increase in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.90, representing a 5.6% yield, an increase from the previous dividend amount of $0.89.

Ontario Teachers Pension Plan Board boosted its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 82.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,798 shares of the real estate investment trust's stock after buying an additional 46,402 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in W.P. Carey were worth $6,488,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in W.P. Carey in the 1st quarter valued at approximately $26,000. TCTC Holdings LLC raised 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 worth $30,000 after purchasing an additional 242 shares during the last quarter. Cheviot Value Management LLC bought a new position in W.P. Carey during the 1st quarter worth approximately $37,000. Bessemer Group Inc. raised its holdings in W.P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 402 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in W.P. Carey during the 4th quarter worth approximately $44,000. Institutional investors own 73.73% of the company's stock.

W.P. Carey Trading Up 0.2%

Shares of WPC stock traded up $0.10 during trading hours on Friday, hitting $65.88. 934,547 shares of the company were exchanged, compared to its average volume of 1,394,147. The firm has a market cap of $14.43 billion, a P/E ratio of 43.35, a P/E/G ratio of 9.61 and a beta of 0.78. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The company has a 50 day simple moving average of $63.33 and a two-hundred day simple moving average of $61.48.

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, topping the consensus estimate of $1.23 by $0.05. The company had revenue of $430.78 million during 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%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. Equities analysts anticipate 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 Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is 236.84%.

Analyst Ratings Changes

Several research firms have issued reports on WPC. Barclays set a $61.00 price target on shares of W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a report on Monday, June 9th. Royal Bank Of Canada raised their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, UBS Group lowered their price target on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $65.00.

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.