Mutual of America Capital Management LLC Sells 2,673 Shares of W. P. Carey Inc. (NYSE:WPC)

Mutual of America Capital Management LLC lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,605 shares of the real estate investment trust’s stock after selling 2,673 shares during the quarter. Mutual of America Capital Management LLC’s holdings in W. P. Carey were worth $6,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Allspring Global Investments Holdings LLC boosted its holdings in W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 341 shares during the last quarter. Stephens Inc. AR boosted its holdings in W. P. Carey by 7.9% during the third quarter. Stephens Inc. AR now owns 13,000 shares of the real estate investment trust’s stock worth $810,000 after buying an additional 953 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in W. P. Carey by 122.9% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $95,000 after buying an additional 838 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in W. P. Carey during the third quarter worth about $9,086,000. Finally, Van ECK Associates Corp boosted its holdings in W. P. Carey by 11.8% during the third quarter. Van ECK Associates Corp now owns 98,733 shares of the real estate investment trust’s stock worth $5,828,000 after buying an additional 10,409 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Barclays cut their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Trading Up 0.7 %

NYSE WPC opened at $64.67 on Tuesday. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 1.06 and a beta of 0.97. The stock’s 50 day moving average price is $56.77 and its two-hundred day moving average price is $57.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.87.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.44%. W. P. Carey’s payout ratio is presently 168.42%.

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.