Employees Retirement System of Texas Has $4.69 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Employees Retirement System of Texas decreased its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 28.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,000 shares of the real estate investment trust's stock after selling 35,000 shares during the period. Employees Retirement System of Texas' holdings in W. P. Carey were worth $4,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of W. P. Carey in the 4th quarter valued at $139,381,000. Massachusetts Financial Services Co. MA grew its position in W. P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after acquiring an additional 906,622 shares during the last quarter. Raymond James Financial Inc. acquired a new position in W. P. Carey during the fourth quarter worth about $31,442,000. Equity Investment Corp lifted its holdings in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock worth $101,918,000 after acquiring an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of W. P. Carey by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock valued at $94,325,000 after purchasing an additional 264,230 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WPC shares. Barclays upped their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Evercore ISI boosted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and increased their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. One investment 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, W. P. Carey presently has a consensus rating of "Hold" and a consensus target price of $63.75.

W. P. Carey Trading Up 2.0 %

NYSE:WPC traded up $1.11 on Friday, reaching $57.87. 1,209,639 shares of the stock traded hands, compared to its average volume of 1,185,677. The company's 50 day moving average is $60.88 and its 200-day moving average is $58.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 6.15%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is 170.33%.

W. P. Carey 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.