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 stake in W. P. Carey Inc. (NYSE:WPC) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,818 shares of the real estate investment trust’s stock after selling 6,573 shares during the period. State of New Jersey Common Pension Fund D’s holdings in W. P. Carey were worth $3,586,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Meixler Investment Management Ltd. bought a new position in W. P. Carey in the 4th quarter valued at about $1,007,000. Allworth Financial LP boosted its position in shares of W. P. Carey by 0.5% during the 4th quarter. Allworth Financial LP now owns 136,470 shares of the real estate investment trust’s stock worth $7,528,000 after acquiring an additional 643 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its stake in W. P. Carey by 23.7% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 11,264 shares of the real estate investment trust’s stock valued at $614,000 after acquiring an additional 2,155 shares during the last quarter. Roxbury Financial LLC acquired a new position in W. P. Carey during the fourth quarter valued at approximately $58,000. Finally, WealthPlan Investment Management LLC lifted its stake in W. P. Carey by 13.3% during the fourth quarter. WealthPlan Investment Management LLC now owns 9,911 shares of the real estate investment trust’s stock worth $540,000 after purchasing an additional 1,165 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $60.42 on Thursday. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 1.01 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The company’s fifty day moving average is $55.67 and its 200 day moving average is $57.62. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

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 paid a $0.88 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 5.83%. W. P. Carey’s dividend payout ratio is presently 168.42%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. UBS Group lowered their price objective on shares of 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. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.38.

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.