Mitsubishi UFJ Trust & Banking Corp Buys 12,294 Shares of W. P. Carey Inc. (NYSE:WPC)

Mitsubishi UFJ Trust & Banking Corp grew its stake in W. P. Carey Inc. (NYSE:WPC) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,836 shares of the real estate investment trust’s stock after acquiring an additional 12,294 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in W. P. Carey were worth $6,529,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WPC. National Pension Service acquired a new stake in W. P. Carey in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey in the 4th quarter valued at $37,000. Millstone Evans Group LLC acquired a new stake in W. P. Carey during the 4th quarter worth $37,000. Plato Investment Management Ltd bought a new position in W. P. Carey during the fourth quarter worth about $48,000. Finally, Roxbury Financial LLC acquired a new position in W. P. Carey in the fourth quarter valued at about $58,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays lifted their price target on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Trading Up 0.4 %

Shares of W. P. Carey stock opened at $62.67 on Monday. The stock has a market cap of $13.71 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The business’s 50 day moving average is $60.04 and its 200-day moving average is $58.38.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

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.