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

Mubadala Investment Co PJSC acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of W. P. Carey by 514.7% during the 4th quarter. Millennium Management LLC now owns 538,933 shares of the real estate investment trust's stock worth $29,361,000 after buying an additional 451,262 shares during the period. Janus Henderson Group PLC grew its position in shares of W. P. Carey by 130.2% during the 4th quarter. Janus Henderson Group PLC now owns 27,585 shares of the real estate investment trust's stock worth $1,503,000 after buying an additional 15,600 shares during the period. Ensign Peak Advisors Inc grew its position in shares of W. P. Carey by 16.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 156,091 shares of the real estate investment trust's stock worth $8,504,000 after buying an additional 22,516 shares during the period. EP Wealth Advisors LLC grew its position in shares of W. P. Carey by 47.8% during the 4th quarter. EP Wealth Advisors LLC now owns 12,637 shares of the real estate investment trust's stock worth $688,000 after buying an additional 4,088 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new position in shares of W. P. Carey during the 4th quarter worth about $194,000. 73.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

WPC has been the subject of several research analyst reports. UBS Group decreased their price objective on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday. Scotiabank boosted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Barclays boosted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research report on Tuesday, March 4th. Royal Bank of Canada boosted their price objective on W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, BMO Capital Markets upgraded 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 research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $108.88.

W. P. Carey Stock Up 1.0%

Shares of W. P. Carey stock traded up $0.63 on Friday, reaching $61.88. 1,146,057 shares of the company were exchanged, compared to its average volume of 1,169,013. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 1.06 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $60.95 and a 200 day moving average of $58.38.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $1.14 EPS. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio is 183.51%.

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.