Treasurer of the State of North Carolina Has $8.10 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Treasurer of the State of North Carolina increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,605 shares of the real estate investment trust’s stock after purchasing an additional 2,385 shares during the period. Treasurer of the State of North Carolina owned approximately 0.07% of W. P. Carey worth $8,096,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WPC. National Pension Service bought a new stake in shares of W. P. Carey in the 4th quarter valued at about $25,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey in the fourth quarter valued at approximately $37,000. Millstone Evans Group LLC bought a new position in shares of W. P. Carey during the fourth quarter worth $37,000. Bessemer Group Inc. grew its holdings in shares of W. P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 402 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in shares of W. P. Carey in the 4th quarter valued at $48,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WPC. Scotiabank lifted their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Evercore ISI boosted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Barclays raised their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Up 2.0 %

Shares of WPC stock opened at $57.87 on Monday. The firm’s fifty day moving average price is $60.88 and its two-hundred day moving average price is $58.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The firm has a market capitalization of $12.67 billion, a P/E ratio of 27.69, a PEG ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 6.15%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 170.33%.

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.