Handelsbanken Fonder AB Reduces Position in W. P. Carey Inc. (NYSE:WPC)

Handelsbanken Fonder AB lowered its position in W. P. Carey Inc. (NYSE:WPC) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,200 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in W. P. Carey were worth $3,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WPC. Wingate Wealth Advisors Inc. purchased a new stake in shares of W. P. Carey in the fourth quarter valued at about $37,000. Maia Wealth LLC acquired a new position in W. P. Carey in the third quarter valued at about $40,000. Fortitude Family Office LLC lifted its position in W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.8 %

Shares of WPC opened at $61.68 on Monday. The company’s 50-day simple moving average is $55.87 and its 200-day simple moving average is $57.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The stock has a market capitalization of $13.50 billion, a PE ratio of 29.51, a P/E/G ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.71%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 168.42%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Barclays decreased their target price on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. 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 report on Wednesday, February 19th. Scotiabank decreased their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Finally, UBS Group decreased their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.38.

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.