State of New Jersey Common Pension Fund D Sells 6,573 Shares of W. P. Carey Inc. (NYSE:WPC)

State of New Jersey Common Pension Fund D lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,818 shares of the real estate investment trust’s stock after selling 6,573 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in W. P. Carey were worth $3,586,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Creative Planning boosted its position in shares of W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after purchasing an additional 207 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of W. P. Carey by 64.8% during the 3rd quarter. Blue Trust Inc. now owns 1,559 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 613 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $204,000. Raymond James & Associates increased its stake in shares of W. P. Carey by 2.8% in the 3rd quarter. Raymond James & Associates now owns 370,669 shares of the real estate investment trust’s stock valued at $23,093,000 after acquiring an additional 10,152 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of W. P. Carey by 70.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 341 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WPC has been the subject of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. UBS Group cut their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Finally, Evercore ISI increased their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $62.38.

W. P. Carey Price Performance

WPC opened at $60.42 on Thursday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The firm has a 50-day moving average of $55.67 and a 200 day moving average of $57.62. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $13.22 billion, a P/E ratio of 28.91, a PEG ratio of 1.01 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.88 dividend. This is a boost 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 5.83%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is currently 168.42%.

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.