KLP Kapitalforvaltning AS Makes New Investment in W. P. Carey Inc. (NYSE:WPC)

KLP Kapitalforvaltning AS acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, Holdings Channel.com reports. The firm acquired 113,300 shares of the real estate investment trust’s stock, valued at approximately $6,257,000.

Several other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC bought a new stake in shares of W. P. Carey in the 3rd quarter worth approximately $218,000. Penserra Capital Management LLC lifted its position in W. P. Carey by 21.0% in the third quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust’s stock worth $1,394,000 after purchasing an additional 3,884 shares during the period. Truvestments Capital LLC acquired a new stake in W. P. Carey during the third quarter worth $155,000. The Manufacturers Life Insurance Company increased its holdings in W. P. Carey by 12.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock valued at $12,016,000 after buying an additional 21,563 shares during the period. Finally, FMR LLC raised its stake in shares of W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after buying an additional 409,593 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Scotiabank upped their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Royal Bank of Canada raised their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Price Performance

W. P. Carey stock opened at $61.59 on Wednesday. The business’s fifty day moving average is $59.59 and its two-hundred day moving average is $58.37. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap 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. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.78%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 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.