Swiss National Bank Sells 19,100 Shares of W. P. Carey Inc. (NYSE:WPC)

Swiss National Bank lowered its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,951 shares of the real estate investment trust's stock after selling 19,100 shares during the period. Swiss National Bank owned about 0.31% of W. P. Carey worth $43,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in W. P. Carey by 130.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust's stock valued at $136,117,000 after purchasing an additional 1,422,490 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of W. P. Carey by 6,411.6% during the 4th quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust's stock valued at $26,579,000 after acquiring an additional 403,803 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of W. P. Carey by 17.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust's stock valued at $123,592,000 after acquiring an additional 334,635 shares during the last quarter. Retirement Systems of Alabama acquired a new position in shares of W. P. Carey during the 4th quarter valued at about $17,750,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of W. P. Carey by 4,604.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 233,091 shares of the real estate investment trust's stock valued at $12,606,000 after acquiring an additional 228,136 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Price Performance

Shares of NYSE WPC traded up $0.14 during midday trading on Tuesday, reaching $57.77. The company's stock had a trading volume of 1,485,888 shares, compared to its average volume of 1,363,409. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $73.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average price of $55.98 and a 200 day moving average price of $58.97.

W. P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The business had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. During the same period last year, the firm posted $1.29 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.865 dividend. This represents a $3.46 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.86. W. P. Carey's payout ratio is presently 131.56%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WPC. Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 target price for the company. Raymond James cut W. P. Carey from an "outperform" rating to a "market perform" rating in a report on Monday, February 12th. Royal Bank of Canada decreased 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. Wells Fargo & Company decreased their price target on W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating for the company in a report on Tuesday, February 20th. Finally, Scotiabank decreased their price target on W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating for the company in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, W. P. Carey has an average rating of "Hold" and an average price target of $63.18.

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.