Arizona State Retirement System Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

Posted by on May 8th, 2023

Arizona State Retirement System increased its stake in shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,604 shares of the real estate investment trust’s stock after buying an additional 1,644 shares during the period. Arizona State Retirement System’s holdings in W. P. Carey were worth $4,267,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WPC. Quent Capital LLC boosted its position in W. P. Carey by 40.4% during the fourth quarter. Quent Capital LLC now owns 775 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 223 shares during the period. Ausdal Financial Partners Inc. boosted its position in W. P. Carey by 31.1% during the third quarter. Ausdal Financial Partners Inc. now owns 4,310 shares of the real estate investment trust’s stock worth $301,000 after purchasing an additional 1,022 shares during the period. Tobam boosted its position in W. P. Carey by 54.4% during the fourth quarter. Tobam now owns 1,223 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 431 shares during the period. Utah Retirement Systems boosted its position in W. P. Carey by 1.8% during the third quarter. Utah Retirement Systems now owns 34,276 shares of the real estate investment trust’s stock worth $2,392,000 after purchasing an additional 600 shares during the period. Finally, NorthRock Partners LLC bought a new position in W. P. Carey during the third quarter worth about $421,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $73.24 on Monday. W. P. Carey Inc. has a 52-week low of $67.76 and a 52-week high of $89.63. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 10.33 and a beta of 0.77. The company has a fifty day moving average of $76.08 and a 200-day moving average of $78.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.27 and a current ratio of 0.11.

W. P. Carey (NYSE:WPC – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.12. W. P. Carey had a net margin of 47.26% and a return on equity of 8.47%. The business had revenue of $427.80 million during the quarter, compared to analyst estimates of $406.24 million. During the same period in the prior year, the business posted $1.35 earnings per share. The company’s revenue was up 24.3% on a year-over-year basis. Equities research analysts expect that W. P. Carey Inc. will post 5.18 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were given a dividend of $1.067 per share. This represents a $4.27 annualized dividend and a yield of 5.83%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.07. The ex-dividend date was Thursday, March 30th. W. P. Carey’s dividend payout ratio is presently 119.94%.

Analyst Ratings Changes

A number of research firms have recently commented on WPC. Royal Bank of Canada raised their price objective on shares of W. P. Carey from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, February 13th. StockNews.com began coverage on shares of W. P. Carey in a research report on Thursday, March 16th. They issued a “hold” rating for the company. JMP Securities restated a “market outperform” rating and issued a $86.00 price objective on shares of W. P. Carey in a research report on Tuesday, March 21st. Finally, 92 Resources restated a “maintains” rating on shares of W. P. Carey in a research report on Monday, May 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.80.

Insider Buying and Selling at W. P. Carey

In other news, Director Mark A. Alexander bought 1,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was bought at an average cost of $72.48 per share, for a total transaction of $72,480.00. Following the completion of the acquisition, the director now owns 26,118 shares in the company, valued at approximately $1,893,032.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.08% of the company’s stock.

About W. P. Carey

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W.P. Carey, Inc is an investment trust company, which engages in the commercial real estate business. It operates through the Real Estate and Investment Management segments. The Real Estate segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for real estate investment trusts, and manages portfolios of real estate investments.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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