Associated Banc Corp Cuts Stake in W. P. Carey Inc. (NYSE:WPC)

Associated Banc Corp reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,007 shares of the real estate investment trust’s stock after selling 2,693 shares during the period. Associated Banc Corp’s holdings in W. P. Carey were worth $1,199,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after buying an additional 193 shares during the period. Harbour Investments Inc. increased its stake in W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 203 shares during the period. Capital Investment Advisory Services LLC increased its stake in W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 259 shares during the period. Empowered Funds LLC increased its stake in W. P. Carey by 7.7% during the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 271 shares during the period. Finally, Cooper Financial Group increased its stake in W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after buying an additional 276 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on WPC. Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company boosted their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Evercore ISI boosted their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Finally, Scotiabank boosted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Up 1.6 %

Shares of NYSE:WPC opened at $62.64 on Friday. The stock has a market cap of $13.71 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.06 and a beta of 0.95. The firm has a fifty day moving average price of $58.57 and a 200 day moving average price of $58.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W. P. Carey Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 168.42%.

W. P. Carey 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.