California State Teachers Retirement System Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

California State Teachers Retirement System lifted its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 313,452 shares of the real estate investment trust's stock after buying an additional 9,391 shares during the period. California State Teachers Retirement System owned about 0.14% of W. P. Carey worth $17,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WPC. National Pension Service purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $37,000. Bessemer Group Inc. increased its holdings in W. P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 402 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $44,000. Institutional investors own 73.73% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WPC. Royal Bank of Canada upped their target price on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays set a $61.00 target price on shares of W. P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. Wells Fargo & Company raised 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 research note on Monday, March 10th. Finally, UBS Group reduced their price target on shares of W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $109.00.

W. P. Carey Trading Up 0.3%

Shares of WPC traded up $0.18 during mid-day trading on Tuesday, reaching $62.45. The stock had a trading volume of 267,711 shares, compared to its average volume of 1,179,189. 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 52-week low of $52.91 and a 52-week high of $66.10. The business's fifty day moving average is $60.92 and its 200 day moving average is $58.89. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 1.06 and a beta of 0.78.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The firm had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. During the same period in the prior year, the company posted $1.14 EPS. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.89 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.70%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is presently 183.51%.

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.