Mitsubishi UFJ Asset Management Co. Ltd. Buys 3,357 Shares of W. P. Carey Inc. (NYSE:WPC)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in W. P. Carey Inc. (NYSE:WPC) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,994 shares of the real estate investment trust’s stock after purchasing an additional 3,357 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.14% of W. P. Carey worth $16,564,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WPC. HighTower Advisors LLC boosted its stake in shares of W. P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after buying an additional 193 shares during the period. Capital Investment Advisory Services LLC raised its stake in W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 259 shares in the last quarter. Empowered Funds LLC lifted its position in W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 271 shares during the period. Cooper Financial Group grew its stake in W. P. Carey by 2.4% during the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after buying an additional 276 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in W. P. Carey by 3.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock valued at $452,000 after buying an additional 289 shares during the period. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Up 0.4 %

Shares of NYSE WPC opened at $62.67 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average price of $60.04 and a 200-day moving average price of $58.38. The stock has a market capitalization of $13.71 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s payout ratio is currently 170.33%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price target on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Barclays boosted their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.75.

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.