State of Tennessee Department of Treasury Lowers Stock Position in W. P. Carey Inc. (NYSE:WPC)

State of Tennessee Department of Treasury lowered its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 35.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,334 shares of the real estate investment trust's stock after selling 34,287 shares during the period. State of Tennessee Department of Treasury's holdings in W. P. Carey were worth $3,450,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WPC. DF Dent & Co. Inc. lifted its stake in shares of W. P. Carey by 3.5% in the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after buying an additional 183 shares in the last quarter. HighTower Advisors LLC increased its holdings in W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock worth $2,418,000 after purchasing an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in shares of W. P. Carey by 3.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock valued at $474,000 after buying an additional 259 shares during the last quarter. Empowered Funds LLC raised its position in W. P. Carey by 7.7% in the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 271 shares during the last quarter. Finally, Cooper Financial Group grew its stake in shares of W. P. Carey by 2.4% in the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust's stock worth $649,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

W. P. Carey Trading Down 0.6 %

Shares of WPC traded down $0.37 during trading hours on Friday, hitting $61.51. The company had a trading volume of 233,245 shares, compared to its average volume of 1,233,824. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The stock's 50 day moving average price is $61.64 and its 200 day moving average price is $58.19. The firm has a market cap of $13.47 billion, a P/E ratio of 29.43, a P/E/G ratio of 1.06 and a beta of 0.81.

W. P. Carey (NYSE:WPC - Get Free Report) last issued 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). The firm had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The business's revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $1.14 earnings per share. On average, research analysts predict that W. P. Carey Inc. will post 4.87 EPS for the current year.

W. P. Carey Increases Dividend

The business 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 annualized dividend and a yield of 5.79%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is 183.51%.

Wall Street Analyst Weigh In

WPC has been the subject of several recent analyst reports. Barclays upped their target price on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank increased their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One equities 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 company's stock. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus target price of $108.50.

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.