Retirement Systems of Alabama Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Retirement Systems of Alabama boosted its position in W. P. Carey Inc. (NYSE:WPC) by 0.1% in the fourth quarter, HoldingsChannel reports. The firm owned 266,101 shares of the real estate investment trust’s stock after buying an additional 255 shares during the quarter. Retirement Systems of Alabama’s holdings in W. P. Carey were worth $14,497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after acquiring an additional 1,784,131 shares in the last quarter. Victory Capital Management Inc. boosted its position in W. P. Carey by 649.4% in the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after purchasing an additional 479,973 shares during the last quarter. FMR LLC grew its stake in W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares during the period. International Assets Investment Management LLC increased its position in shares of W. P. Carey by 6,145.1% during the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after purchasing an additional 400,782 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of W. P. Carey by 274.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock worth $25,282,000 after purchasing an additional 297,432 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.0 %

W. P. Carey stock opened at $56.08 on Friday. The firm has a 50 day simple moving average of $55.30 and a 200 day simple moving average of $57.69. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.01 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.28%. W. P. Carey’s payout ratio is 138.58%.

Analysts Set New Price Targets

A number of analysts recently issued reports on WPC shares. Barclays decreased their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank dropped their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $62.00.

About W. P. Carey

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.