W. P. Carey Inc. (NYSE:WPC) Shares Sold by Norinchukin Bank The

Norinchukin Bank The cut its position in W. P. Carey Inc. (NYSE:WPC) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,761 shares of the real estate investment trust’s stock after selling 228 shares during the quarter. Norinchukin Bank The’s holdings in W. P. Carey were worth $532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Ossiam raised its position in shares of W. P. Carey by 28.9% in the 4th quarter. Ossiam now owns 19,354 shares of the real estate investment trust’s stock valued at $1,054,000 after purchasing an additional 4,343 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of W. P. Carey in the fourth quarter worth $597,000. Adams Wealth Management raised its holdings in W. P. Carey by 33.5% in the fourth quarter. Adams Wealth Management now owns 11,675 shares of the real estate investment trust’s stock valued at $635,000 after acquiring an additional 2,930 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in W. P. Carey by 3.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 454,720 shares of the real estate investment trust’s stock valued at $24,766,000 after acquiring an additional 14,505 shares during the last quarter. Finally, Demars Financial Group LLC grew its holdings in W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after acquiring an additional 988,409 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank upped their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Royal Bank of Canada upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, Evercore ISI raised their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Stock Up 1.3 %

WPC stock opened at $62.08 on Wednesday. The stock has a market cap of $13.59 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The firm’s 50-day simple moving average is $61.54 and its 200 day simple moving average is $58.10. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

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.