W.P. Carey Inc. $WPC Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 3.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 108,897 shares of the real estate investment trust's stock after selling 3,740 shares during the quarter. Mutual of America Capital Management LLC's holdings in W.P. Carey were worth $6,793,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. von Borstel & Associates Inc. purchased a new position in shares of W.P. Carey in the 1st quarter worth $26,000. TCTC Holdings LLC grew its stake in shares of W.P. Carey by 100.8% during 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 acquired a new stake in shares of W.P. Carey during the first quarter valued at about $37,000. V Square Quantitative Management LLC acquired a new stake in shares of W.P. Carey during the second quarter valued at about $40,000. Finally, REAP Financial Group LLC grew its stake in W.P. Carey by 56.4% in the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WPC shares. Royal Bank Of Canada lifted their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wells Fargo & Company raised W.P. Carey from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Scotiabank boosted their target price on W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Friday, September 5th. UBS Group lifted their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Finally, Barclays lifted 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. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, W.P. Carey presently has an average rating of "Hold" and an average price target of $67.44.

W.P. Carey Stock Up 0.3%

WPC stock opened at $68.67 on Tuesday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.79. The company has a fifty day simple moving average of $67.27 and a 200 day simple moving average of $63.95. The firm has a market cap of $15.04 billion, a PE ratio of 45.17, a PEG ratio of 9.90 and a beta of 0.81.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same quarter in the previous year, the business earned $1.17 EPS. W.P. Carey's quarterly revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Sell-side analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a yield of 5.3%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's dividend payout ratio (DPR) is presently 239.47%.

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.

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