31,994 Shares in W.P. Carey Inc. (NYSE:WPC) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 31,994 shares of the real estate investment trust's stock, valued at approximately $2,019,000.

A number of other large investors have also recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new stake in W.P. Carey during the 4th quarter worth about $37,000. Bessemer Group Inc. lifted its stake in shares of 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 period. Fourth Dimension Wealth LLC acquired a new stake in W.P. Carey during the fourth quarter worth approximately $44,000. Hoey Investments Inc. purchased a new stake in W.P. Carey in the 4th quarter worth approximately $48,000. Finally, Quarry LP acquired a new position in W.P. Carey in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Up 0.5%

Shares of W.P. Carey stock traded up $0.33 on Friday, hitting $62.81. 1,142,203 shares of the company's stock traded hands, compared to its average volume of 1,162,262. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. 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 stock has a market cap of $13.75 billion, a P/E ratio of 32.38, a PEG ratio of 6.99 and a beta of 0.78. The firm's 50-day moving average is $62.34 and its 200 day moving average is $60.26.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. Equities analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.73%. W.P. Carey's payout ratio is currently 185.57%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WPC. Evercore ISI increased their target price on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a report on Wednesday, May 21st. UBS Group dropped their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Finally, Royal Bank Of Canada upped their price target on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, W.P. Carey has a consensus rating of "Hold" and an average price target of $104.22.

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.