W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 33.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,715 shares of the real estate investment trust’s stock after buying an additional 31,427 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of W. P. Carey worth $6,794,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. National Pension Service acquired a new stake in W. P. Carey in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the fourth quarter worth $37,000. RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey in the third quarter worth $44,000. Plato Investment Management Ltd acquired a new stake in W. P. Carey in the fourth quarter worth $48,000. Finally, Roxbury Financial LLC bought a new position in shares of W. P. Carey in the fourth quarter worth $58,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Scotiabank increased their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays increased their price target on 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 increased their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Royal Bank of Canada increased their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Trading Down 0.5 %

Shares of WPC stock opened at $61.60 on Friday. The stock has a 50-day simple moving average of $58.27 and a 200 day simple moving average of $58.28. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The stock has a market capitalization of $13.48 billion, a P/E ratio of 29.47, a P/E/G ratio of 1.06 and a beta of 0.95. 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 Increases Dividend

The company also recently announced 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. This represents a $3.56 annualized dividend and a yield of 5.78%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

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.