DnB Asset Management AS Grows Position in W. P. Carey Inc. (NYSE:WPC)

DnB Asset Management AS raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.6% during the fourth quarter, HoldingsChannel reports. The firm owned 42,493 shares of the real estate investment trust’s stock after purchasing an additional 1,850 shares during the period. DnB Asset Management AS’s holdings in W. P. Carey were worth $2,315,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WPC. Vanguard Group Inc. lifted its holdings 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 during the period. Geode Capital Management LLC lifted its stake in shares of W. P. Carey by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after purchasing an additional 127,477 shares during 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 valued at $143,926,000 after purchasing an additional 43,197 shares in the last quarter. Norges Bank purchased a new position in W. P. Carey in the fourth quarter valued at about $139,381,000. Finally, Equity Investment Corp grew its stake in W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after purchasing an additional 389,107 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company lifted 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 report on Monday, March 10th. Scotiabank increased their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Evercore ISI increased their price target 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. 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. According to MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Trading Down 0.2 %

Shares of NYSE:WPC opened at $63.01 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.06 and a beta of 0.95. The business has a 50-day moving average price of $60.31 and a 200-day moving average price of $58.39.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.65%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey’s payout ratio is presently 170.33%.

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.