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

DnB Asset Management AS raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. National Pension Service bought a new stake in W. P. Carey in the 4th quarter worth approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey in the fourth quarter valued at $37,000. Millstone Evans Group LLC bought a new stake in W. P. Carey in the fourth quarter worth $37,000. Plato Investment Management Ltd purchased a new stake in W. P. Carey during the fourth quarter valued at $48,000. Finally, Roxbury Financial LLC bought a new position in W. P. Carey during the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.2 %

Shares of WPC opened at $63.01 on Wednesday. The firm has a fifty day moving average price of $60.31 and a 200-day moving average price of $58.39. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $13.79 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.89 dividend. 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 of this dividend is Monday, March 31st. W. P. Carey’s payout ratio is 170.33%.

Wall Street Analyst Weigh In

WPC has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. 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 report on Wednesday, February 19th. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and an average price target of $63.75.

W. P. Carey 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.