Teachers Retirement System of The State of Kentucky Buys New Shares in W. P. Carey Inc. (NYSE:WPC)

Teachers Retirement System of The State of Kentucky purchased a new position in W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 62,160 shares of the real estate investment trust’s stock, valued at approximately $4,029,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cohen & Steers Inc. raised its position in shares of W. P. Carey by 91.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after purchasing an additional 5,407,289 shares during the period. Norges Bank purchased a new stake in W. P. Carey during the fourth quarter valued at about $157,107,000. Daiwa Securities Group Inc. boosted its holdings in shares of W. P. Carey by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after buying an additional 1,124,010 shares during the period. Principal Financial Group Inc. increased its position in shares of W. P. Carey by 4,716.5% in the fourth quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock worth $52,005,000 after acquiring an additional 785,766 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in W. P. Carey by 6,411.6% during the 4th quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock valued at $26,579,000 after purchasing an additional 403,803 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. UBS Group began coverage on shares of W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 price objective on the stock. Finally, Scotiabank increased their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus target price of $61.55.

W. P. Carey Stock Down 1.1 %

Shares of WPC stock opened at $55.46 on Tuesday. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.38. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50 day simple moving average is $56.64 and its 200 day simple moving average is $59.26. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.04 and a beta of 0.91.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.87 dividend. The ex-dividend date is Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a yield of 6.27%. W. P. Carey’s dividend payout ratio (DPR) is presently 131.56%.

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.