Swiss National Bank Cuts Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Swiss National Bank trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 4.8% in the 4th quarter, Holdings Channel.com reports. 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’s holdings in W. P. Carey were worth $33,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. National Pension Service purchased a new position in shares of W. P. Carey during the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey during the 4th quarter valued at approximately $37,000. RPg Family Wealth Advisory LLC purchased a new position in shares of W. P. Carey during the 3rd quarter valued at approximately $44,000. Plato Investment Management Ltd purchased a new position in shares of W. P. Carey during the 4th quarter valued at approximately $48,000. Finally, Roxbury Financial LLC purchased a new stake in W. P. Carey in the 4th quarter worth $58,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Up 1.6 %

Shares of WPC opened at $62.64 on Monday. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average is $58.57 and its two-hundred day moving average is $58.30. The stock has a market cap of $13.71 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently announced 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 5.68%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Scotiabank boosted 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 report on Wednesday, March 12th. Evercore ISI boosted their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada boosted their price target 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. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.