Toronto Dominion Bank Has $1.72 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Toronto Dominion Bank raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 31.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,551 shares of the real estate investment trust’s stock after acquiring an additional 6,586 shares during the quarter. Toronto Dominion Bank’s holdings in W. P. Carey were worth $1,716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP grew its stake in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of W. P. Carey during the 2nd quarter worth approximately $39,000. Maia Wealth LLC acquired a new position in shares of W. P. Carey during the 3rd quarter worth approximately $40,000. Finally, Ridgewood Investments LLC bought a new stake in shares of W. P. Carey during the 2nd quarter worth approximately $41,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Up 2.1 %

Shares of WPC opened at $57.02 on Monday. The firm’s 50-day simple moving average is $57.15 and its 200 day simple moving average is $58.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $12.48 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the business posted $1.32 EPS. On average, analysts forecast that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date is Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is presently 138.58%.

Analyst Upgrades and Downgrades

WPC has been the subject of several analyst reports. UBS Group decreased their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Barclays lifted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.88.

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.