National Bank of Canada FI Sells 54,932 Shares of W. P. Carey Inc. (NYSE:WPC)

National Bank of Canada FI lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 98.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 990 shares of the real estate investment trust's stock after selling 54,932 shares during the quarter. National Bank of Canada FI's holdings in W. P. Carey were worth $54,000 at the end of the most recent quarter.

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

W. P. Carey Stock Performance

WPC stock traded up $0.90 during midday trading on Friday, reaching $62.18. 771,315 shares of the company's stock traded hands, compared to its average volume of 1,182,824. The firm has a market capitalization of $13.62 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The company has a 50-day moving average price of $61.28 and a two-hundred day moving average price of $58.10. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

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 paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.73%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey's payout ratio is presently 170.33%.

Analysts Set New Price Targets

A number of brokerages recently commented on WPC. Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and raised their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank lifted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada raised their price target 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. One equities research 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $63.75.

About W. P. Carey

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.