Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 6,300 W.P. Carey Inc. (NYSE:WPC)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,300 shares of the real estate investment trust's stock, valued at approximately $398,000.

Other large investors have also recently modified their holdings of the company. Sei Investments Co. boosted its holdings in shares of W.P. Carey by 17.1% in the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock valued at $3,056,000 after purchasing an additional 8,197 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of W.P. Carey by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock valued at $119,235,000 after purchasing an additional 134,523 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of W.P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of W.P. Carey by 3.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 355,333 shares of the real estate investment trust's stock valued at $19,359,000 after purchasing an additional 12,560 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in shares of W.P. Carey by 120.4% in the 4th quarter. Vestcor Inc now owns 69,640 shares of the real estate investment trust's stock valued at $3,794,000 after purchasing an additional 38,043 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank raised their target price on W.P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Barclays set a $61.00 target price on W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. UBS Group dropped their target price on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a research report on Monday, June 9th. Finally, BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $100.40.

W.P. Carey Trading Down 2.6%

Shares of WPC stock opened at $62.70 on Thursday. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 7.17 and a beta of 0.80. The stock has a 50-day moving average of $62.06 and a 200-day moving average of $59.62. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). The company had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, equities research analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.90 dividend. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date is Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.74%. 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.

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