Mubadala Investment Co PJSC Buys New Shares in W. P. Carey Inc. (NYSE:WPC)

Mubadala Investment Co PJSC purchased a new stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,389 shares of the real estate investment trust's stock, valued at approximately $2,364,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in WPC. Franklin Resources Inc. increased its holdings in shares of W. P. Carey by 20.4% in the 3rd quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust's stock valued at $9,898,000 after acquiring an additional 28,022 shares during the period. Nordea Investment Management AB raised its stake in shares of W. P. Carey by 10.8% during the 4th quarter. Nordea Investment Management AB now owns 16,335 shares of the real estate investment trust's stock worth $888,000 after acquiring an additional 1,587 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in W. P. Carey by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 146,790 shares of the real estate investment trust's stock valued at $7,997,000 after acquiring an additional 1,402 shares in the last quarter. Fiduciary Alliance LLC purchased a new position in W. P. Carey in the fourth quarter worth $1,418,000. Finally, Adams Asset Advisors LLC lifted its holdings in shares of W. P. Carey by 38.4% during the 4th quarter. Adams Asset Advisors LLC now owns 59,666 shares of the real estate investment trust's stock valued at $3,251,000 after purchasing an additional 16,540 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Evercore ISI raised their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Scotiabank raised their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Finally, UBS Group dropped their price target on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $108.88.

W. P. Carey Trading Up 1.0%

WPC traded up $0.63 during trading hours on Friday, reaching $61.88. The company's stock had a trading volume of 1,146,057 shares, compared to its average volume of 1,170,744. The business's 50-day moving average is $60.95 and its 200-day moving average is $58.39. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $13.55 billion, a PE ratio of 29.61, a P/E/G ratio of 1.06 and a beta of 0.78. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. As a group, equities research analysts predict that W. P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.75%. W. P. Carey's dividend payout ratio (DPR) is currently 183.51%.

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.