Public Employees Retirement System of Ohio Cuts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Public Employees Retirement System of Ohio reduced its position in W. P. Carey Inc. (NYSE:WPC) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 397,167 shares of the real estate investment trust’s stock after selling 4,401 shares during the period. Public Employees Retirement System of Ohio’s holdings in W. P. Carey were worth $24,744,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WPC. HB Wealth Management LLC lifted its holdings in shares of W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 8,843 shares during the period. Equity Investment Corp increased its stake in shares of W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares during the period. SG Americas Securities LLC raised its holdings in shares of W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after purchasing an additional 46,181 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after purchasing an additional 9,353 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in W. P. Carey in the third quarter valued at $1,692,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WPC shares. UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays boosted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Evercore ISI lifted their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Up 1.1 %

Shares of W. P. Carey stock opened at $56.51 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $12.37 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The business has a 50 day moving average price of $57.54 and a 200 day moving average price of $58.03.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the previous year, the company earned $1.32 EPS. W. P. Carey’s quarterly revenue was down 11.9% on a year-over-year basis. Sell-side analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is presently 137.80%.

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.