Zurcher Kantonalbank Zurich Cantonalbank Acquires 31,427 Shares of W. P. Carey Inc. (NYSE:WPC)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,715 shares of the real estate investment trust's stock after acquiring an additional 31,427 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of W. P. Carey worth $6,794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. National Pension Service acquired a new position in shares of W. P. Carey in the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey in the 4th quarter valued at $37,000. RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey in the 3rd quarter worth $44,000. Plato Investment Management Ltd bought a new position in W. P. Carey during the 4th quarter worth about $48,000. Finally, Roxbury Financial LLC bought a new stake in shares of W. P. Carey in the fourth quarter valued at about $58,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

WPC traded down $0.07 on Monday, reaching $62.59. The company had a trading volume of 1,723,449 shares, compared to its average volume of 1,104,135. The stock has a market cap of $13.70 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.06 and a beta of 0.95. 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 Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company's fifty day moving average is $58.57 and its 200 day moving average is $58.30.

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W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.89 dividend. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.69%. W. P. Carey's dividend payout ratio is presently 170.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Evercore ISI boosted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Finally, Barclays increased their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $63.75.

W. P. Carey Company 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.