Norges Bank Takes $139.38 Million Position in W. P. Carey Inc. (NYSE:WPC)

Norges Bank acquired a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,558,388 shares of the real estate investment trust's stock, valued at approximately $139,381,000. Norges Bank owned 1.17% of W. P. Carey as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. National Pension Service bought a new position in shares of W. P. Carey during the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey in the 4th quarter valued at $37,000. Millstone Evans Group LLC bought a new position in W. P. Carey during the fourth quarter worth $37,000. Plato Investment Management Ltd acquired a new position in W. P. Carey in the fourth quarter valued at $48,000. Finally, Roxbury Financial LLC bought a new position in shares of W. P. Carey in the 4th quarter worth about $58,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Performance

Shares of W. P. Carey stock traded down $1.37 during trading hours on Thursday, hitting $61.31. 1,888,725 shares of the company's stock traded hands, compared to its average volume of 1,274,166. The stock has a market capitalization of $13.42 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 1.06 and a beta of 0.95. The company has a fifty day simple moving average of $60.46 and a 200-day simple moving average of $58.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10.

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W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.81%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is currently 170.33%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, March 4th. Scotiabank boosted 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 report on Wednesday, March 12th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Wells Fargo & Company boosted their target price on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Finally, BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $63.75.

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.