KLP Kapitalforvaltning AS acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 113,300 shares of the real estate investment trust's stock, valued at approximately $6,257,000. KLP Kapitalforvaltning AS owned about 0.05% of W. P. Carey at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in WPC. Empowered Funds LLC bought a new stake in shares of W. P. Carey in the 3rd quarter valued at about $218,000. Penserra Capital Management LLC boosted its stake in W. P. Carey by 21.0% in the third quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust's stock valued at $1,394,000 after acquiring an additional 3,884 shares in the last quarter. Truvestments Capital LLC purchased a new position in W. P. Carey in the third quarter worth $155,000. The Manufacturers Life Insurance Company increased its position in shares of W. P. Carey by 12.6% during the third quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust's stock worth $12,016,000 after purchasing an additional 21,563 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock valued at $50,219,000 after purchasing an additional 409,593 shares during the last quarter. Institutional investors own 73.73% of the company's stock.
Analyst Ratings Changes
Several brokerages recently issued reports on WPC. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank upped their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Royal Bank of Canada lifted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Wells Fargo & Company upped their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Finally, Barclays lifted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus target price of $63.75.
View Our Latest Stock Analysis on W. P. Carey
W. P. Carey Stock Performance
NYSE:WPC traded up $0.26 during mid-day trading on Friday, hitting $62.67. The company's stock had a trading volume of 794,407 shares, compared to its average volume of 1,163,911. The business's fifty day moving average is $60.04 and its two-hundred day moving average is $58.41. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95. 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 1 year low of $52.91 and a 1 year high of $66.10.
W. P. Carey Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.68%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey's dividend payout ratio (DPR) is 170.33%.
W. P. Carey Profile
(
Free Report)
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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