Retirement Systems of Alabama Buys New Stake in W. P. Carey Inc. (NYSE:WPC)

Retirement Systems of Alabama purchased a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 273,875 shares of the real estate investment trust's stock, valued at approximately $17,750,000. Retirement Systems of Alabama owned approximately 0.13% of W. P. Carey as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Bank & Trust Co. purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $32,000. Covestor Ltd grew its holdings in W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 595 shares in the last quarter. First Horizon Advisors Inc. purchased a new position in W. P. Carey during the 3rd quarter valued at approximately $45,000. Finally, Provence Wealth Management Group purchased a new position in W. P. Carey during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WPC shares. Barclays started coverage on W. P. Carey in a report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 price target for the company. Scotiabank cut their price target 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. Wells Fargo & Company cut their price target on W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada lowered their price objective on W. P. Carey from $68.00 to $65.00 and set an "outperform" rating for the company in a research note on Monday, February 12th. Finally, StockNews.com started coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a "hold" rating for the company. Two equities research 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. Based on data from MarketBeat, W. P. Carey has a consensus rating of "Hold" and an average target price of $63.36.

W. P. Carey Trading Down 0.4 %

Shares of WPC stock traded down $0.20 on Wednesday, reaching $54.64. 1,789,691 shares of the company's stock were exchanged, compared to its average volume of 1,355,224. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.79. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $11.96 billion, a PE ratio of 16.56, a P/E/G ratio of 0.44 and a beta of 0.86. The company's fifty day simple moving average is $55.92 and its 200 day simple moving average is $58.88.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. During the same period last year, the company earned $1.29 EPS. W. P. Carey's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts forecast that W. P. Carey Inc. will post 4.56 EPS for the current year.

W. P. Carey Increases Dividend

The company 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 an increase from W. P. Carey's previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.33%. The ex-dividend date was Wednesday, March 27th. W. P. Carey's dividend payout ratio (DPR) is presently 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.