National Bank of Canada FI Reduces Holdings in W. P. Carey Inc. (NYSE:WPC)

National Bank of Canada FI reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 98.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 990 shares of the real estate investment trust’s stock after selling 54,932 shares during the period. National Bank of Canada FI’s holdings in W. P. Carey were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC increased its stake in shares of W. P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after purchasing an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in W. P. Carey by 3.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 259 shares during the period. Empowered Funds LLC increased its position in W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 271 shares in the last quarter. Cooper Financial Group raised its stake in shares of W. P. Carey by 2.4% in the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after buying an additional 276 shares during the period. Finally, Impact Partnership Wealth LLC lifted its position in shares of W. P. Carey by 3.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock valued at $452,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Scotiabank upped their target price 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. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Evercore ISI boosted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Up 2.0 %

WPC opened at $57.87 on Friday. The company has a market capitalization of $12.67 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The firm has a 50-day simple moving average of $60.88 and a two-hundred day simple moving average of $58.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.89 per share. The ex-dividend date is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 6.15%. W. P. Carey’s dividend payout ratio is presently 170.33%.

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.