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

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its holdings in W.P. Carey Inc. by 9.8%, acquiring an additional 29,554 shares, bringing its total ownership to approximately 331,548 shares valued at about $20.9 million.
• W.P. Carey recently increased its quarterly dividend to $0.90 per share, up from the previous $0.89, resulting in a 5.5% yield.
• The company's latest earnings report showed an EPS of $1.28, surpassing estimates, with revenues of $430.78 million, reflecting a 10.5% year-over-year increase.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331,548 shares of the real estate investment trust's stock after acquiring an additional 29,554 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of W.P. Carey worth $20,924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. von Borstel & Associates Inc. purchased a new position in W.P. Carey during the first quarter worth approximately $26,000. TCTC Holdings LLC lifted its position in shares of W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 242 shares in the last quarter. Cheviot Value Management LLC purchased a new position in shares of W.P. Carey in the first quarter valued at approximately $37,000. Bessemer Group Inc. lifted its position in shares of W.P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 402 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of W.P. Carey in the fourth quarter valued at approximately $44,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Trading Down 0.2%

W.P. Carey stock traded down $0.13 during trading on Tuesday, reaching $65.47. 905,749 shares of the company were exchanged, compared to its average volume of 1,387,383. The stock's 50 day simple moving average is $63.46 and its two-hundred day simple moving average is $61.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $14.34 billion, a P/E ratio of 43.07, a PEG ratio of 9.58 and a beta of 0.78. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.64.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%. The company had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. The company's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.90 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a research report on Monday, June 9th. Barclays set a $61.00 target price on W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada raised their target price on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Finally, Evercore ISI raised their target price on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.00.

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.