2,558,388 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by Norges Bank

Norges Bank purchased a new stake in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,558,388 shares of the real estate investment trust’s stock, valued at approximately $139,381,000. Norges Bank owned approximately 1.17% of W. P. Carey at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service acquired a new position in W. P. Carey during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the fourth quarter worth approximately $37,000. Plato Investment Management Ltd bought a new position in shares of W. P. Carey in the 4th quarter worth $48,000. Finally, Roxbury Financial LLC bought a new stake in W. P. Carey during the 4th quarter valued at $58,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Wells Fargo & Company boosted their price objective on 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 raised their target price 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. Evercore ISI upped their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Stock Up 0.7 %

WPC stock opened at $63.12 on Tuesday. The stock has a market cap of $13.81 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.06 and a beta of 0.95. 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 stock’s fifty day simple moving average is $60.18 and its two-hundred day simple moving average is $58.39. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.64%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is presently 170.33%.

About W. P. Carey

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.