Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in W. P. Carey Inc. (NYSE:WPC)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,033 shares of the real estate investment trust’s stock after acquiring an additional 33,790 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.12% of W. P. Carey worth $14,451,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WPC. Richardson Financial Services Inc. purchased a new position in W. P. Carey during the 1st quarter valued at about $26,000. First United Bank & Trust purchased a new position in W. P. Carey during the 4th quarter valued at about $27,000. Riverview Trust Co purchased a new position in W. P. Carey during the 1st quarter valued at about $28,000. YHB Investment Advisors Inc. purchased a new position in W. P. Carey during the 1st quarter valued at about $30,000. Finally, FNY Investment Advisers LLC purchased a new position in W. P. Carey during the 4th quarter valued at about $32,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

NYSE WPC traded down $0.48 during trading hours on Friday, hitting $59.02. 166,713 shares of the company’s stock traded hands, compared to its average volume of 1,313,757. The business’s fifty day moving average price is $56.77 and its two-hundred day moving average price is $57.99. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $12.91 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.12 and a beta of 0.93. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.38.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 5.90%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, June 28th. W. P. Carey’s payout ratio is 132.32%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WPC shares. Wells Fargo & Company lowered their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. decreased their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Scotiabank lifted their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, Barclays initiated coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.00.

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.