Mutual of America Capital Management LLC Decreases Stake in W. P. Carey Inc. (NYSE:WPC)

Mutual of America Capital Management LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 5.6% during the third quarter, HoldingsChannel.com reports. The firm owned 118,278 shares of the real estate investment trust’s stock after selling 7,010 shares during the period. Mutual of America Capital Management LLC’s holdings in W. P. Carey were worth $7,369,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WPC. Massmutual Trust Co. FSB ADV increased its holdings in W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC increased its stake in W. P. Carey by 5.2% in the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 198 shares in the last quarter. Kowal Investment Group LLC raised its holdings in W. P. Carey by 3.4% during the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 199 shares during the last quarter. Harbour Investments Inc. boosted its position in W. P. Carey by 5.9% during the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 203 shares in the last quarter. Finally, Creative Planning grew its holdings in W. P. Carey by 0.3% in the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.8 %

Shares of WPC opened at $56.23 on Tuesday. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The company has a market capitalization of $12.31 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.04 and a beta of 0.95. The stock has a fifty day moving average of $59.41 and a two-hundred day moving average of $58.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the prior year, the firm earned $1.32 EPS. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.22%. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Scotiabank decreased their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Barclays upped their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.88.

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.