New York State Common Retirement Fund Sells 18,367 Shares of W. P. Carey Inc. (NYSE:WPC)

New York State Common Retirement Fund lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 142,772 shares of the real estate investment trust’s stock after selling 18,367 shares during the quarter. New York State Common Retirement Fund owned 0.07% of W. P. Carey worth $9,253,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its holdings in W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after buying an additional 1,124,010 shares during the last quarter. Legal & General Group Plc raised its stake in shares of W. P. Carey by 1.3% during the third quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock valued at $153,352,000 after acquiring an additional 37,055 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of W. P. Carey by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,056 shares of the real estate investment trust’s stock worth $126,388,000 after purchasing an additional 12,982 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of W. P. Carey by 17.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust’s stock worth $123,592,000 after purchasing an additional 334,635 shares during the last quarter. Finally, PGGM Investments increased its holdings in W. P. Carey by 7.3% during the 3rd quarter. PGGM Investments now owns 2,108,963 shares of the real estate investment trust’s stock valued at $114,053,000 after purchasing an additional 142,649 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

WPC stock opened at $54.64 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.44 and a beta of 0.86. The firm has a 50 day moving average price of $55.92 and a 200-day moving average price of $58.88. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.79.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. During the same quarter in the previous year, the business earned $1.29 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that W. P. Carey Inc. will post 4.56 EPS 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. Shareholders of record on Thursday, March 28th were issued a $0.865 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.33%. W. P. Carey’s payout ratio is 104.85%.

Wall Street Analyst Weigh In

WPC has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating on the stock. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada cut their target price on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Barclays started coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. Finally, Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.36.

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.