Mutual of America Capital Management LLC Acquires New Shares in W. P. Carey Inc. (NYSE:WPC)

Mutual of America Capital Management LLC acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 135,023 shares of the real estate investment trust's stock, valued at approximately $8,751,000. Mutual of America Capital Management LLC owned about 0.06% of W. P. Carey at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WPC. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of W. P. Carey by 20.6% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 134 shares in the last quarter. Arbor Capital Management Inc. ADV lifted its position in shares of W. P. Carey by 1.5% during the first quarter. Arbor Capital Management Inc. ADV now owns 9,465 shares of the real estate investment trust's stock valued at $706,000 after purchasing an additional 143 shares in the last quarter. Lido Advisors LLC lifted its position in shares of W. P. Carey by 3.2% during the first quarter. Lido Advisors LLC now owns 5,292 shares of the real estate investment trust's stock valued at $410,000 after purchasing an additional 166 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of W. P. Carey by 3.9% during the third quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust's stock valued at $273,000 after purchasing an additional 191 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of W. P. Carey by 4.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,616 shares of the real estate investment trust's stock valued at $361,000 after purchasing an additional 203 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Price Performance

WPC stock traded down $0.61 during midday trading on Friday, reaching $54.97. The company had a trading volume of 1,151,167 shares, compared to its average volume of 1,392,132. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $74.66. The company has a market capitalization of $12.03 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.44 and a beta of 0.86. The firm has a 50-day moving average price of $56.63 and a 200-day moving average price of $58.68.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The business had revenue of $410.38 million during the quarter, compared to analysts' expectations of $413.04 million. During the same quarter in the previous year, the company earned $1.29 EPS. The business's quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.29%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Wednesday, March 27th. W. P. Carey's payout ratio is presently 104.85%.

Analyst Ratings Changes

Several analysts have commented on WPC shares. StockNews.com started coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a "hold" rating on the stock. Raymond James lowered shares of W. P. Carey from an "outperform" rating to a "market perform" rating in a research report on Monday, February 12th. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an "outperform" rating on the stock in a research report on Monday, February 12th. Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 20th. Finally, Scotiabank lowered their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $63.36.

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.