Maryland State Retirement & Pension System Has $630,000 Stake in W. P. Carey Inc. (NYSE:WPC)

Maryland State Retirement & Pension System lowered its position in W. P. Carey Inc. (NYSE:WPC) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,568 shares of the real estate investment trust’s stock after selling 810 shares during the period. Maryland State Retirement & Pension System’s holdings in W. P. Carey were worth $630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Xponance Inc. raised its holdings in shares of W. P. Carey by 8.9% during the 4th quarter. Xponance Inc. now owns 37,709 shares of the real estate investment trust’s stock valued at $2,054,000 after purchasing an additional 3,077 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of W. P. Carey in the fourth quarter worth about $2,868,000. Retirement Planning Co of New England Inc. boosted its stake in shares of W. P. Carey by 34.0% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 6,105 shares of the real estate investment trust’s stock worth $333,000 after acquiring an additional 1,549 shares in the last quarter. Mystic Asset Management Inc. acquired a new position in shares of W. P. Carey during the 4th quarter valued at about $251,000. Finally, Horizon Kinetics Asset Management LLC raised its stake in shares of W. P. Carey by 4.3% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 35,150 shares of the real estate investment trust’s stock valued at $1,915,000 after acquiring an additional 1,450 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $61.35 on Tuesday. The business’s 50 day moving average is $59.44 and its 200-day moving average is $58.37. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $13.43 billion, a PE ratio of 29.36, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.80%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WPC shares. Wells Fargo & Company increased their price target on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Scotiabank lifted their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Evercore ISI increased their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.75.

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.