W. P. Carey Inc. (NYSE:WPC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,200 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in W. P. Carey were worth $3,389,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Maia Wealth LLC acquired a new position in shares of W. P. Carey in the 3rd quarter valued at $40,000. Abich Financial Wealth Management LLC increased its stake in W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in W. P. Carey in the 4th quarter valued at $37,000. Fortitude Family Office LLC increased its stake in W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey in the 3rd quarter valued at $44,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $61.68 on Monday. The firm has a market capitalization of $13.50 billion, a P/E ratio of 29.51, a PEG ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.26. The company’s fifty day moving average is $55.87 and its two-hundred day moving average is $57.70. 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 announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 168.42%.

Analysts Set New Price Targets

Several brokerages have issued reports on WPC. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Evercore ISI boosted their price objective on shares of 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 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 note on Tuesday, February 18th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Barclays dropped their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $62.38.

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.