KLP Kapitalforvaltning AS Invests $6.26 Million in W. P. Carey Inc. (NYSE:WPC)

KLP Kapitalforvaltning AS acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 113,300 shares of the real estate investment trust’s stock, valued at approximately $6,257,000. KLP Kapitalforvaltning AS owned approximately 0.05% of W. P. Carey as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in shares of 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 valued at $2,418,000 after buying an additional 193 shares during the period. Capital Investment Advisory Services LLC boosted its position in W. P. Carey by 3.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 259 shares during the last quarter. Empowered Funds LLC grew its stake in W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 271 shares in the last quarter. Cooper Financial Group increased its position in W. P. Carey by 2.4% in the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 276 shares during the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in shares of W. P. Carey by 3.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock worth $452,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on WPC shares. Wells Fargo & Company increased their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays lifted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Up 0.3 %

WPC stock opened at $61.59 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average of $59.59 and a two-hundred day moving average of $58.37. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.89 dividend. 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 5.78%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

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.