Pensionfund Sabic Increases Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Pensionfund Sabic increased its holdings in W. P. Carey Inc. (NYSE:WPCFree Report) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,304 shares of the real estate investment trust’s stock after acquiring an additional 3,000 shares during the quarter. Pensionfund Sabic’s holdings in W. P. Carey were worth $2,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First United Bank & Trust purchased a new position in W. P. Carey during the fourth quarter valued at $27,000. Central Bank & Trust Co. purchased a new position in W. P. Carey during the fourth quarter valued at $28,000. FNY Investment Advisers LLC purchased a new position in W. P. Carey during the fourth quarter valued at $32,000. EdgeRock Capital LLC purchased a new position in W. P. Carey during the fourth quarter valued at $32,000. Finally, Transcendent Capital Group LLC purchased a new position in W. P. Carey during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on WPC. Barclays started coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Wells Fargo & Company reduced their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Royal Bank of Canada reduced their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. UBS Group started coverage on W. P. Carey in a report on Friday, May 31st. They set a “neutral” rating and a $57.00 price target for the company. Finally, Scotiabank raised their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $61.55.

View Our Latest Analysis on W. P. Carey

W. P. Carey Stock Performance

NYSE WPC traded down $0.24 during trading hours on Wednesday, hitting $55.22. The company’s stock had a trading volume of 1,463,484 shares, compared to its average volume of 1,200,943. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $73.38. The company’s 50 day simple moving average is $56.59 and its two-hundred day simple moving average is $59.20. The company has a market cap of $12.08 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 6.30%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is presently 131.56%.

About W. P. Carey

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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