Desjardins Global Asset Management Inc. Has $67,000 Position in W. P. Carey Inc. (NYSE:WPC)

Desjardins Global Asset Management Inc. lowered its holdings in W. P. Carey Inc. (NYSE:WPC) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,027 shares of the real estate investment trust’s stock after selling 308 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in W. P. Carey were worth $67,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of WPC. Fairfield Bush & CO. acquired a new position in W. P. Carey in the first quarter worth $26,000. Acadian Asset Management LLC acquired a new position in W. P. Carey in the first quarter worth $26,000. Central Bank & Trust Co. acquired a new position in W. P. Carey in the fourth quarter worth $28,000. Quarry LP boosted its stake in W. P. Carey by 438.5% in the second quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 342 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in W. P. Carey in the fourth quarter worth $32,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 2.9 %

Shares of W. P. Carey stock opened at $56.22 on Friday. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $74.66. The business has a 50-day moving average of $56.06 and a two-hundred day moving average of $58.68. The company has a market capitalization of $12.30 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 0.42 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same period in the prior year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that W. P. Carey Inc. will post 4.57 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is currently 104.85%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WPC. Royal Bank of Canada dropped their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Scotiabank dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. StockNews.com began coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating for the company. Finally, Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Company 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.