Strs Ohio Has $4.75 Million Position in W. P. Carey Inc. (NYSE:WPC)

Strs Ohio lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 68.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 73,306 shares of the real estate investment trust’s stock after selling 161,920 shares during the quarter. Strs Ohio’s holdings in W. P. Carey were worth $4,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of W. P. Carey in the first quarter valued at approximately $26,000. Acadian Asset Management LLC acquired a new stake in shares of W. P. Carey in the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $32,000. Quarry LP increased its holdings in shares of W. P. Carey by 438.5% in the second quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 342 shares in the last quarter. Finally, Central Bank & Trust Co. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on WPC shares. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Wells Fargo & Company dropped their target price on shares of 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. Royal Bank of Canada dropped their target price on shares of 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. Barclays started coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price for the company. Finally, StockNews.com started coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.36.

W. P. Carey Price Performance

Shares of WPC stock opened at $54.64 on Friday. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.42 and a beta of 0.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $74.66. The firm has a fifty day moving average of $56.08 and a 200-day moving average of $58.66.

W. P. Carey (NYSE:WPC) last announced its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. On average, 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 business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.865 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. 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 6.33%. W. P. Carey’s dividend payout ratio is presently 104.85%.

About W. P. Carey

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.