State of New Jersey Common Pension Fund D Has $3.99 Million Position in W. P. Carey Inc. (NYSE:WPC)

State of New Jersey Common Pension Fund D cut its position in W. P. Carey Inc. (NYSE:WPC) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,391 shares of the real estate investment trust’s stock after selling 34,658 shares during the period. State of New Jersey Common Pension Fund D’s holdings in W. P. Carey were worth $3,985,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WPC. Cohen & Steers Inc. grew its stake in shares of W. P. Carey by 91.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after buying an additional 5,407,289 shares during the period. Norges Bank acquired a new stake in shares of W. P. Carey in the 4th quarter valued at about $157,107,000. Equity Investment Corp acquired a new stake in shares of W. P. Carey in the 1st quarter valued at about $59,802,000. Vanguard Group Inc. grew its stake in shares of W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after buying an additional 657,188 shares during the period. Finally, PGGM Investments grew its stake in shares of W. P. Carey by 18.5% in the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after buying an additional 389,853 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the acquisition, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WPC shares. Wells Fargo & Company raised their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Royal Bank of Canada dropped their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. UBS Group raised their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI raised their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.30.

W. P. Carey Trading Up 1.1 %

NYSE:WPC opened at $63.95 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $13.99 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The firm’s 50 day moving average is $58.82 and its 200 day moving average is $57.19. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period last year, the firm posted $1.36 EPS. Sell-side analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

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.