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

Swiss National Bank cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 668,951 shares of the real estate investment trust’s stock after selling 19,100 shares during the period. Swiss National Bank’s holdings in W. P. Carey were worth $43,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Central Bank & Trust Co. bought a new position in W. P. Carey in the 4th quarter valued at $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey in the 4th quarter valued at about $32,000. Covestor Ltd grew its holdings in shares of W. P. Carey by 316.5% during the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 595 shares in the last quarter. First Horizon Advisors Inc. bought a new position in shares of W. P. Carey in the third quarter worth approximately $45,000. Finally, Provence Wealth Management Group bought a new stake in W. P. Carey during the third quarter valued at approximately $46,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.6 %

WPC opened at $57.61 on Tuesday. The stock has a market cap of $12.61 billion, a PE ratio of 21.90, a PEG ratio of 0.45 and a beta of 0.86. The business has a 50 day moving average of $55.93 and a 200-day moving average of $58.93. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) 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 company had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. During the same period last year, the business earned $1.29 EPS. W. P. Carey’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts predict that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.865 dividend. This represents a $3.46 annualized dividend and a dividend yield of 6.01%. The ex-dividend date was Wednesday, March 27th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio is currently 131.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WPC shares. Scotiabank dropped their price objective on shares of 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. Barclays began coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus target price of $63.18.

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.