Strs Ohio Has $4.75 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Strs Ohio trimmed its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 68.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,306 shares of the real estate investment trust's stock after selling 161,920 shares during the quarter. Strs Ohio's holdings in W. P. Carey were worth $4,750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WPC. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of W. P. Carey by 1.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 762,912 shares of the real estate investment trust's stock worth $49,444,000 after purchasing an additional 12,601 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in W. P. Carey in the 4th quarter worth approximately $1,067,000. Louisiana State Employees Retirement System purchased a new position in shares of W. P. Carey during the 4th quarter worth $3,979,000. Round Rock Advisors LLC grew its holdings in W. P. Carey by 5.3% in the 4th quarter. Round Rock Advisors LLC now owns 4,814 shares of the real estate investment trust's stock valued at $312,000 after buying an additional 242 shares during the period. Finally, Janiczek Wealth Management LLC increased its stake in shares of W. P. Carey by 258.1% during the 4th quarter. Janiczek Wealth Management LLC now owns 967 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 697 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WPC shares. Raymond James downgraded shares of W. P. Carey from an "outperform" rating to a "market perform" rating in a research note on Monday, February 12th. Barclays began coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 price target for the company. StockNews.com assumed coverage on W. P. Carey in a report on Thursday, January 4th. They issued a "hold" rating on the stock. Scotiabank decreased their target price on W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating for the company in a report on Monday, March 4th. Finally, Royal Bank of Canada cut 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 report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $63.36.

W. P. Carey Stock Up 2.9 %

Shares of W. P. Carey stock traded up $1.57 during trading hours on Friday, hitting $56.22. 1,277,300 shares of the company's stock traded hands, compared to its average volume of 1,380,459. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $74.66. The company has a market cap of $12.30 billion, a PE ratio of 17.03, a PEG ratio of 0.42 and a beta of 0.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $56.06 and a 200-day simple moving average of $58.68.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. W. P. Carey's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. Equities research analysts anticipate that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.15%. The ex-dividend date was Wednesday, March 27th. W. P. Carey's dividend payout ratio (DPR) is currently 104.85%.

W. P. Carey Company 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.