New York State Teachers Retirement System Purchases 20,756 Shares of W. P. Carey Inc. (NYSE:WPC)

New York State Teachers Retirement System grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,173 shares of the real estate investment trust’s stock after purchasing an additional 20,756 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of W. P. Carey worth $12,286,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WPC. SRS Capital Advisors Inc. boosted its stake in W. P. Carey by 1.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after purchasing an additional 191 shares in the last quarter. Accurate Wealth Management LLC grew its holdings in W. P. Carey by 5.6% during the 1st quarter. Accurate Wealth Management LLC now owns 3,913 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 208 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of W. P. Carey by 6.2% in the first quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 208 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of W. P. Carey by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 209 shares in the last quarter. Finally, Cooper Financial Group raised its holdings in W. P. Carey by 2.1% during the 2nd quarter. Cooper Financial Group now owns 10,881 shares of the real estate investment trust’s stock valued at $599,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Activity

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by insiders.

W. P. Carey Trading Up 2.2 %

NYSE:WPC traded up $1.32 during trading hours on Friday, hitting $60.05. 895,525 shares of the stock were exchanged, compared to its average volume of 1,277,154. The company’s 50 day moving average is $57.11 and its two-hundred day moving average is $56.80. The company has a market capitalization of $13.14 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $67.40. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). The company had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.87 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 annualized dividend and a dividend yield of 5.80%. W. P. Carey’s dividend payout ratio (DPR) is 132.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WPC. Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Scotiabank lowered their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, UBS Group raised their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $60.91.

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.