State of New Jersey Common Pension Fund D Has $3.59 Million Position in W. P. Carey Inc. (NYSE:WPC)

State of New Jersey Common Pension Fund D decreased its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 9.1% in the 4th quarter, according to the company in 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 quarter. State of New Jersey Common Pension Fund D's holdings in W. P. Carey were worth $3,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its holdings in W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock worth $226,000 after acquiring an additional 203 shares in the last quarter. Creative Planning lifted its position in W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock worth $4,031,000 after acquiring an additional 207 shares during the period. Demars Financial Group LLC lifted its holdings in shares of W. P. Carey by 2.2% in the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust's stock valued at $616,000 after buying an additional 216 shares during the period. Capital Investment Advisory Services LLC boosted its position in shares of W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock worth $474,000 after purchasing an additional 259 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Stock Performance

WPC traded up $0.41 during trading on Friday, reaching $61.61. 587,359 shares of the company were exchanged, compared to its average volume of 1,016,632. The stock has a market cap of $13.48 billion, a P/E ratio of 29.48, a PEG ratio of 1.04 and a beta of 0.97. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $55.78 and a 200 day moving average of $57.64.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 5.71%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey's dividend payout ratio is currently 168.42%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday. Scotiabank dropped 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. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $60.00 to $67.00 in a report on Tuesday. Royal Bank of Canada increased their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.