New York State Common Retirement Fund Trims Holdings in W. P. Carey Inc. (NYSE:WPC)

New York State Common Retirement Fund lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,538 shares of the real estate investment trust’s stock after selling 8,800 shares during the period. New York State Common Retirement Fund owned about 0.05% of W. P. Carey worth $6,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the 4th quarter worth approximately $37,000. Maia Wealth LLC bought a new position in W. P. Carey during the third quarter worth $40,000. RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey in the third quarter worth $44,000. Allspring Global Investments Holdings LLC increased its stake in W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 341 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth $58,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the subject of several research reports. Barclays decreased their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank reduced their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets raised 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Price Performance

Shares of WPC opened at $64.25 on Friday. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.68. The stock’s fifty day moving average is $56.57 and its 200-day moving average is $57.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.48%. W. P. Carey’s dividend payout ratio (DPR) is 168.42%.

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.