Arizona State Retirement System Acquires 849 Shares of W. P. Carey Inc. (NYSE:WPC)

Arizona State Retirement System boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 63,542 shares of the real estate investment trust’s stock after purchasing an additional 849 shares during the quarter. Arizona State Retirement System’s holdings in W. P. Carey were worth $3,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. National Pension Service acquired a new position in shares of W. P. Carey during the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the fourth quarter worth $37,000. RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey during the 3rd quarter valued at $44,000. Plato Investment Management Ltd bought a new stake in W. P. Carey in the 4th quarter valued at $48,000. Finally, Roxbury Financial LLC acquired a new stake in W. P. Carey in the 4th quarter worth $58,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Evercore ISI upped their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Scotiabank decreased their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays upped their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Finally, UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Price Performance

Shares of WPC stock opened at $64.74 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s fifty day simple moving average is $57.75 and its 200 day simple moving average is $58.19. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $65.45. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 5.44%. W. P. Carey’s dividend payout ratio is presently 168.42%.

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.