BI Asset Management Fondsmaeglerselskab A S Acquires New Holdings in W. P. Carey Inc. (NYSE:WPC)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,955 shares of the real estate investment trust's stock, valued at approximately $597,000.

A number of other hedge funds have also modified their holdings of WPC. Vanguard Group Inc. increased its position in W. P. Carey by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after buying an additional 242,576 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of W. P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after purchasing an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of W. P. Carey by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after buying an additional 906,622 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in W. P. Carey by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock worth $143,926,000 after acquiring an additional 43,197 shares during the last quarter. Finally, Norges Bank purchased a new stake in W. P. Carey in the 4th quarter worth approximately $139,381,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on WPC shares. Scotiabank raised their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Wells Fargo & Company increased their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Royal Bank of Canada increased their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Evercore ISI increased their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of "Hold" and an average price target of $63.75.

W. P. Carey Trading Down 1.6 %

NYSE WPC opened at $61.04 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50-day simple moving average of $61.59 and a 200-day simple moving average of $58.12. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The firm has a market capitalization of $13.37 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.83%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is currently 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.

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