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New York State Common Retirement Fund Has $14.61 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

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New York State Common Retirement Fund cut its position in W. P. Carey Inc. (NYSE:WPCGet Rating) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,732 shares of the real estate investment trust’s stock after selling 6,960 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of W. P. Carey worth $14,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Old Port Advisors grew its position in W. P. Carey by 1.1% in the 1st quarter. Old Port Advisors now owns 11,436 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 127 shares during the last quarter. Belpointe Asset Management LLC grew its position in W. P. Carey by 0.6% in the 1st quarter. Belpointe Asset Management LLC now owns 19,736 shares of the real estate investment trust’s stock worth $1,595,000 after purchasing an additional 127 shares during the last quarter. H&H Retirement Design & Management INC grew its position in W. P. Carey by 2.5% in the 4th quarter. H&H Retirement Design & Management INC now owns 5,188 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 129 shares during the last quarter. D.A. Davidson & CO. grew its position in W. P. Carey by 1.2% in the 4th quarter. D.A. Davidson & CO. now owns 11,094 shares of the real estate investment trust’s stock worth $910,000 after purchasing an additional 130 shares during the last quarter. Finally, Keybank National Association OH grew its position in W. P. Carey by 4.4% in the 1st quarter. Keybank National Association OH now owns 3,108 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 130 shares during the last quarter. 58.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of W. P. Carey in a research report on Monday, June 27th. They set a “market perform” rating and a $88.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of W. P. Carey from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. Raymond James lifted their target price on shares of W. P. Carey from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 8th. StockNews.com downgraded shares of W. P. Carey from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Finally, JMP Securities lifted their price target on shares of W. P. Carey from $87.00 to $93.00 and gave the company a “market outperform” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.80.

W. P. Carey Trading Up 0.5 %

Shares of WPC stock opened at $84.62 on Friday. W. P. Carey Inc. has a 12-month low of $73.02 and a 12-month high of $89.63. The company has a market capitalization of $16.32 billion, a P/E ratio of 30.77, a P/E/G ratio of 9.19 and a beta of 0.67. The company has a quick ratio of 0.20, a current ratio of 0.11 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $83.58 and a 200 day moving average price of $81.00.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $1.059 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.01%. W. P. Carey’s payout ratio is currently 154.18%.

W. P. Carey Company Profile

(Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

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