W. P. Carey Inc. (NYSE:WPC) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 46.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,465 shares of the real estate investment trust’s stock after selling 11,729 shares during the period. Alaska Permanent Fund Corp’s holdings in W. P. Carey were worth $873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WPC. Yousif Capital Management LLC boosted its stake in shares of W. P. Carey by 939.6% in the fourth quarter. Yousif Capital Management LLC now owns 110,691 shares of the real estate investment trust’s stock valued at $7,174,000 after buying an additional 100,044 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of W. P. Carey in the fourth quarter worth $63,000. Larson Financial Group LLC raised its holdings in shares of W. P. Carey by 6.5% in the fourth quarter. Larson Financial Group LLC now owns 4,213 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 257 shares during the last quarter. California Public Employees Retirement System increased its stake in W. P. Carey by 4.6% in the fourth quarter. California Public Employees Retirement System now owns 1,164,290 shares of the real estate investment trust’s stock valued at $75,458,000 after purchasing an additional 51,682 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in W. P. Carey by 5.2% in the fourth quarter. Handelsbanken Fonder AB now owns 139,094 shares of the real estate investment trust’s stock valued at $9,015,000 after purchasing an additional 6,921 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.9 %

Shares of W. P. Carey stock opened at $55.97 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The business’s 50 day simple moving average is $56.07 and its 200-day simple moving average is $58.81. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $74.66.

W. P. Carey (NYSE:WPC) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm had revenue of $410.38 million for the quarter, compared to analysts’ expectations of $413.04 million. During the same period last year, the firm earned $1.29 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that W. P. Carey Inc. will post 4.57 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is presently 104.85%.

Analyst Ratings Changes

A number of research firms have issued reports on WPC. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Royal Bank of Canada decreased their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Scotiabank decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. StockNews.com began coverage on W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company decreased their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.36.

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.