Louisiana State Employees Retirement System acquired a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 61,400 shares of the real estate investment trust's stock, valued at approximately $3,979,000.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Demars Financial Group LLC lifted its position in shares of W. P. Carey by 14.0% during the 3rd quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust's stock valued at $4,122,000 after acquiring an additional 9,334 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in W. P. Carey during the 3rd quarter valued at $613,000. Arizona State Retirement System raised its stake in W. P. Carey by 0.8% during the 4th quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust's stock valued at $3,811,000 after purchasing an additional 439 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in W. P. Carey by 5.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust's stock valued at $11,852,000 after purchasing an additional 10,562 shares during the period. Finally, State of Michigan Retirement System acquired a new stake in W. P. Carey during the 4th quarter valued at $3,403,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
WPC has been the topic of several recent analyst reports. Barclays initiated coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 target price on the stock. StockNews.com started coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They issued a "hold" rating on the stock. Scotiabank dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Monday, March 4th. Royal Bank of Canada dropped their price target on shares of W. P. Carey from $68.00 to $65.00 and set an "outperform" rating on the stock in a research note on Monday, February 12th. Finally, Wells Fargo & Company dropped their price target on shares of W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and an average price target of $63.36.
View Our Latest Stock Analysis on WPC
W. P. Carey Stock Performance
Shares of NYSE WPC traded down $0.95 during mid-day trading on Monday, hitting $54.02. The company had a trading volume of 1,245,907 shares, compared to its average volume of 1,390,101. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The business's 50-day simple moving average is $56.51 and its 200-day simple moving average is $58.73. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $74.66. The firm has a market cap of $11.82 billion, a P/E ratio of 16.37, a PEG ratio of 0.44 and a beta of 0.86.
W. P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The business had revenue of $410.38 million during the quarter, compared to analysts' expectations of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The firm's revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. As a group, analysts predict that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.
W. P. Carey Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.865 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from W. P. Carey's previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a yield of 6.41%. W. P. Carey's dividend payout ratio (DPR) is presently 104.85%.
About W. P. Carey
(
Free Report)
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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