Retirement Systems of Alabama Acquires 255 Shares of W. P. Carey Inc. (NYSE:WPC)

Retirement Systems of Alabama boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,101 shares of the real estate investment trust’s stock after acquiring an additional 255 shares during the quarter. Retirement Systems of Alabama owned 0.12% of W. P. Carey worth $14,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Maia Wealth LLC acquired a new position in shares of W. P. Carey during the third quarter worth $40,000. Abich Financial Wealth Management LLC lifted its holdings in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares during the period. Fortitude Family Office LLC grew its position in shares of W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at about $44,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 341 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WPC. Scotiabank decreased their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Barclays decreased their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, UBS Group dropped their price objective on 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 investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.00.

W. P. Carey Stock Down 0.0 %

W. P. Carey stock opened at $56.08 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average price is $55.30 and its two-hundred day moving average price is $57.69. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is currently 138.58%.

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.