W. P. Carey Inc. (NYSE:WPC) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,164,290 shares of the real estate investment trust’s stock after buying an additional 51,682 shares during the quarter. California Public Employees Retirement System owned 0.53% of W. P. Carey worth $75,458,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Central Bank & Trust Co. acquired a new stake in W. P. Carey during the 4th quarter worth approximately $28,000. FNY Investment Advisers LLC acquired a new stake in W. P. Carey during the 4th quarter worth approximately $32,000. Covestor Ltd lifted its holdings in W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 595 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in W. P. Carey during the 3rd quarter worth approximately $45,000. Finally, Provence Wealth Management Group acquired a new stake in W. P. Carey during the 3rd quarter worth approximately $46,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Up 0.2 %

NYSE WPC opened at $56.43 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The firm’s fifty day moving average price is $56.05 and its 200 day moving average price is $58.82. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $74.66.

W. P. Carey (NYSE:WPC) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. On average, sell-side analysts expect that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.865 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.13%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is presently 104.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. StockNews.com assumed coverage on shares of W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Barclays assumed coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.36.

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.