W. P. Carey Inc. (NYSE:WPC) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 618,251 shares of the real estate investment trust's stock after selling 31,200 shares during the period. Swiss National Bank owned about 0.28% of W. P. Carey worth $33,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. lifted its position in W. P. Carey by 0.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 63,624 shares of the real estate investment trust's stock valued at $3,466,000 after purchasing an additional 517 shares during the period. Farther Finance Advisors LLC raised its position in shares of W. P. Carey by 71.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,605 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 1,085 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of W. P. Carey by 2.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 24,247 shares of the real estate investment trust's stock worth $1,321,000 after acquiring an additional 570 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of W. P. Carey by 1.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 149,009 shares of the real estate investment trust's stock worth $8,118,000 after acquiring an additional 2,109 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of W. P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock worth $2,418,000 after acquiring an additional 193 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

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W. P. Carey Price Performance

NYSE WPC traded down $0.21 during trading hours on Thursday, hitting $61.52. 1,012,151 shares of the company's stock traded hands, compared to its average volume of 1,104,316. The firm's 50-day moving average is $59.00 and its 200-day moving average is $58.36. 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 current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $13.46 billion, a PE ratio of 29.44, a PEG ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.89 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey's dividend payout ratio is currently 170.33%.

Analyst Ratings Changes

WPC has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Barclays upped 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 report on Tuesday, March 4th. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank upped their price target 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, JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. One 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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.