Trust Co. of Vermont Boosts Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Trust Co. of Vermont grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 859.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,791 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the quarter. Trust Co. of Vermont’s holdings in W. P. Carey were worth $154,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of W. P. Carey by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after purchasing an additional 187,022 shares in the last quarter. Cohen & Steers Inc. increased its holdings in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after purchasing an additional 5,407,289 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after purchasing an additional 1,124,010 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of W. P. Carey by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock valued at $196,902,000 after purchasing an additional 43,959 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of W. P. Carey by 14.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,623,549 shares of the real estate investment trust’s stock valued at $170,032,000 after purchasing an additional 338,194 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Up 0.4 %

Shares of WPC stock traded up $0.23 on Wednesday, hitting $57.35. 310,331 shares of the stock traded hands, compared to its average volume of 1,304,888. The firm’s 50-day moving average price is $56.78 and its two-hundred day moving average price is $57.21. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.93. The stock has a market capitalization of $12.55 billion, a PE ratio of 21.73, a PEG ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same period in the previous year, the company earned $1.36 EPS. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. As a group, analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.87 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 6.07%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is presently 132.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company cut their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. JPMorgan Chase & Co. cut their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Scotiabank boosted their price target on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $60.91.

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.