Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in W.P. Carey Inc. $WPC

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in W.P. Carey Inc. (NYSE:WPC) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 336,007 shares of the real estate investment trust’s stock after acquiring an additional 4,459 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in W.P. Carey were worth $20,960,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC lifted its stake in shares of W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 242 shares during the period. Cheviot Value Management LLC acquired a new position in W.P. Carey in the first quarter valued at $37,000. V Square Quantitative Management LLC purchased a new position in W.P. Carey during the second quarter worth about $40,000. REAP Financial Group LLC boosted its stake in W.P. Carey by 56.4% in the 2nd quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 238 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in W.P. Carey in the 2nd quarter worth about $43,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

WPC opened at $67.93 on Wednesday. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79. The company has a 50 day moving average of $67.48 and a two-hundred day moving average of $64.78. The company has a market cap of $14.89 billion, a P/E ratio of 41.17, a P/E/G ratio of 9.57 and a beta of 0.80. The company has a quick ratio of 0.19, a current ratio of 0.25 and a debt-to-equity ratio of 1.02.

W.P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The business had revenue of $431.30 million for the quarter, compared to analyst estimates of $424.44 million. During the same quarter in the previous year, the business posted $1.18 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.91 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s payout ratio is presently 220.61%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Barclays upped their price target on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday, October 20th. Evercore ISI lifted their price target on shares of W.P. Carey from $70.00 to $72.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Royal Bank Of Canada boosted their price objective on shares of W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Scotiabank increased their target price on W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.89.

W.P. Carey 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.