Public Employees Retirement System of Ohio Trims Stake in W. P. Carey Inc. (NYSE:WPC)

Public Employees Retirement System of Ohio cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,320 shares of the real estate investment trust's stock after selling 7,847 shares during the period. Public Employees Retirement System of Ohio owned about 0.18% of W. P. Carey worth $21,210,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Park Avenue Securities LLC grew its stake in shares of W. P. Carey by 9.5% in the fourth quarter. Park Avenue Securities LLC now owns 6,443 shares of the real estate investment trust's stock worth $351,000 after acquiring an additional 560 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of W. P. Carey by 2.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 149,254 shares of the real estate investment trust's stock valued at $8,131,000 after buying an additional 3,416 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in W. P. Carey by 4.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 24,037 shares of the real estate investment trust's stock worth $1,310,000 after acquiring an additional 1,104 shares in the last quarter. RFG Advisory LLC lifted its position in W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock valued at $347,000 after acquiring an additional 3,049 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its stake in W. P. Carey by 3.6% in the fourth quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust's stock valued at $452,000 after acquiring an additional 289 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WPC shares. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. 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 research report on Tuesday, February 18th. UBS Group decreased their price target 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. Wells Fargo & Company upped their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, Barclays set a $61.00 price objective on W. P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $109.00.

W. P. Carey Stock Performance

WPC traded up $0.23 during trading on Thursday, reaching $63.07. The company's stock had a trading volume of 1,263,765 shares, compared to its average volume of 1,178,938. The company's fifty day moving average price is $60.87 and its 200-day moving average price is $58.69. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10.

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 EPS for the quarter, missing the consensus estimate 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 company had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the business earned $1.14 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts forecast that W. P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued 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 dividend yield of 5.64%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. 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.