TD Asset Management Inc Trims Stake in W. P. Carey Inc. (NYSE:WPC)

TD Asset Management Inc lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 16.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 102,830 shares of the real estate investment trust’s stock after selling 20,039 shares during the quarter. TD Asset Management Inc’s holdings in W. P. Carey were worth $6,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of W. P. Carey by 3.9% in the first quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock worth $2,209,731,000 after buying an additional 1,016,340 shares in the last quarter. BlackRock Inc. lifted its position in W. P. Carey by 2.5% during the first quarter. BlackRock Inc. now owns 15,373,667 shares of the real estate investment trust’s stock valued at $1,190,691,000 after purchasing an additional 368,425 shares during the period. State Street Corp lifted its position in W. P. Carey by 2.1% during the first quarter. State Street Corp now owns 10,228,412 shares of the real estate investment trust’s stock valued at $802,831,000 after purchasing an additional 208,561 shares during the period. JPMorgan Chase & Co. lifted its position in W. P. Carey by 46.1% during the first quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock valued at $507,966,000 after purchasing an additional 2,068,458 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its position in W. P. Carey by 104,493.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock valued at $360,716,000 after purchasing an additional 4,611,275 shares during the period. Institutional investors own 62.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of W. P. Carey in a research report on Wednesday, September 20th. They set an “equal weight” rating and a $66.00 price objective on the stock. Bank of America lowered their price objective on shares of W. P. Carey from $67.00 to $54.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 26th. TheStreet downgraded shares of W. P. Carey from a “b-” rating to a “c+” rating in a research report on Wednesday, October 4th. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $79.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 26th. Finally, JMP Securities cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.60.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $57.07 on Tuesday. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $85.94. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 6.46 and a beta of 0.84. The firm has a 50-day simple moving average of $55.64 and a 200-day simple moving average of $63.78. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.85.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $1.071 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $4.28 dividend on an annualized basis and a yield of 7.51%. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. W. P. Carey’s dividend payout ratio (DPR) is presently 117.58%.

W. P. Carey Company Profile

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,475 net lease properties covering approximately 180 million square feet and a portfolio of 85 self-storage operating properties, as of June 30, 2023.