Swiss National Bank Sells 14,100 Shares of W. P. Carey Inc. (NYSE:WPC)

Swiss National Bank decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 654,851 shares of the real estate investment trust’s stock after selling 14,100 shares during the quarter. Swiss National Bank owned approximately 0.30% of W. P. Carey worth $36,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in W. P. Carey by 73.6% during the 3rd quarter. Wellington Management Group LLP now owns 37,194 shares of the real estate investment trust’s stock worth $2,011,000 after purchasing an additional 15,763 shares in the last quarter. Central Bank & Trust Co. purchased a new position in W. P. Carey in the 4th quarter worth approximately $28,000. Cornerstone Wealth Management LLC increased its stake in W. P. Carey by 25.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 17,857 shares of the real estate investment trust’s stock worth $1,157,000 after purchasing an additional 3,643 shares during the period. TruWealth Advisors LLC increased its stake in shares of W. P. Carey by 31.0% during the fourth quarter. TruWealth Advisors LLC now owns 217,133 shares of the real estate investment trust’s stock valued at $14,072,000 after buying an additional 51,380 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. increased its stake in shares of W. P. Carey by 21.4% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 51,268 shares of the real estate investment trust’s stock valued at $3,425,000 after buying an additional 9,048 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group assumed coverage on W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target on the stock. Wells Fargo & Company lowered their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada reduced their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $60.45.

W. P. Carey Price Performance

W. P. Carey stock traded down $0.11 during midday trading on Monday, reaching $58.22. 161,095 shares of the stock traded hands, compared to its average volume of 1,315,443. The stock’s fifty day moving average is $56.65 and its 200-day moving average is $58.07. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $73.38. The stock has a market cap of $12.74 billion, a P/E ratio of 22.18, a PEG ratio of 1.08 and a beta of 0.93. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.87 per share. The ex-dividend date is Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a yield of 5.98%. W. P. Carey’s dividend payout ratio is presently 132.32%.

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.