Kentucky Retirement Systems Purchases Shares of 14,791 W.P. Carey Inc. (NYSE:WPC)

Kentucky Retirement Systems purchased a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,791 shares of the real estate investment trust's stock, valued at approximately $933,000.

A number of other hedge funds also recently made changes to their positions in WPC. Ieq Capital LLC acquired a new position in shares of W.P. Carey in the 4th quarter valued at $227,000. Wealthspire Advisors LLC raised its stake in shares of W.P. Carey by 2.9% in the 4th quarter. Wealthspire Advisors LLC now owns 11,917 shares of the real estate investment trust's stock valued at $649,000 after buying an additional 339 shares in the last quarter. Transcendent Capital Group LLC raised its stake in shares of W.P. Carey by 726.2% in the 4th quarter. Transcendent Capital Group LLC now owns 4,850 shares of the real estate investment trust's stock valued at $264,000 after buying an additional 4,263 shares in the last quarter. Amalgamated Bank raised its stake in shares of W.P. Carey by 0.3% in the 4th quarter. Amalgamated Bank now owns 104,538 shares of the real estate investment trust's stock valued at $5,695,000 after buying an additional 337 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in shares of W.P. Carey by 12.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 215,332 shares of the real estate investment trust's stock valued at $11,731,000 after buying an additional 24,606 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. BNP Paribas Exane upgraded shares of 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. Wells Fargo & Company increased their target price on shares of W.P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, Scotiabank increased their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned 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 Stock Down 0.2%

Shares of NYSE:WPC opened at $64.37 on Wednesday. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company's 50-day moving average price is $62.03 and its two-hundred day moving average price is $59.60. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a market cap of $14.10 billion, a P/E ratio of 33.18, a P/E/G ratio of 7.18 and a beta of 0.80.

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

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a yield of 5.59%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is currently 183.51%.

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.

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