New York State Teachers Retirement System Has $9.95 Million Stake in W.P. Carey Inc. $WPC

Key Points

• New York State Teachers Retirement System reduced its stake in W.P. Carey Inc. by 28.8% during the second quarter, holding 159,423 shares worth nearly $9.95 million.
• Several institutions have recently adjusted their positions in W.P. Carey, with notable increases including TCTC Holdings LLC raising its stake by 100.8%.
• W.P. Carey announced a quarterly dividend increase to $0.91, resulting in a dividend yield of 5.3% and a payout ratio of 239.47%.

New York State Teachers Retirement System trimmed its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 28.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,423 shares of the real estate investment trust's stock after selling 64,410 shares during the quarter. New York State Teachers Retirement System owned 0.07% of W.P. Carey worth $9,945,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of W.P. Carey during the first quarter worth approximately $26,000. TCTC Holdings LLC raised its position in W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 242 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in W.P. Carey in the 1st quarter valued at $37,000. V Square Quantitative Management LLC purchased a new stake in W.P. Carey in the 2nd quarter valued at $40,000. Finally, REAP Financial Group LLC raised its position in W.P. Carey by 56.4% in the 2nd quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 238 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WPC. Wells Fargo & Company raised W.P. Carey from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. UBS Group upped their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Scotiabank upped their price objective on W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research note on Friday, September 5th. Barclays increased their price target on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. Finally, Evercore ISI increased their price target on W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, W.P. Carey presently has an average rating of "Hold" and a consensus price target of $67.22.

W.P. Carey Stock Performance

Shares of WPC opened at $68.47 on Monday. The stock's 50-day simple moving average is $67.20 and its 200 day simple moving average is $63.88. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 45.04, a price-to-earnings-growth ratio of 9.90 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. The business had revenue of $430.78 million for the quarter, compared to analysts' expectations of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's payout ratio is 239.47%.

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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