W. P. Carey Inc. (NYSE:WPC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,568 shares of the real estate investment trust’s stock after selling 810 shares during the quarter. Maryland State Retirement & Pension System’s holdings in W. P. Carey were worth $630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. National Pension Service bought a new position in shares of W. P. Carey in the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the 4th quarter valued at $37,000. RPg Family Wealth Advisory LLC acquired a new position in shares of W. P. Carey during the 3rd quarter valued at $44,000. Plato Investment Management Ltd bought a new stake in shares of W. P. Carey in the 4th quarter worth $48,000. Finally, Roxbury Financial LLC acquired a new stake in shares of W. P. Carey in the fourth quarter valued at $58,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 0.2 %

NYSE:WPC opened at $61.35 on Tuesday. The stock has a market cap of $13.43 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $59.44 and its two-hundred day moving average is $58.37.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.80%. The ex-dividend date is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 170.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WPC. Barclays raised their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada lifted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Evercore ISI lifted 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, February 19th. Finally, Wells Fargo & Company upped their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, W. P. Carey has a consensus 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.