Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in W. P. Carey Inc. (NYSE:WPC)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in W. P. Carey Inc. (NYSE:WPC) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 301,994 shares of the real estate investment trust’s stock after buying an additional 3,357 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in W. P. Carey were worth $16,564,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. National Pension Service bought a new position in shares of W. P. Carey in the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey in the fourth quarter worth $37,000. Millstone Evans Group LLC bought a new position in W. P. Carey in the 4th quarter valued at $37,000. Plato Investment Management Ltd purchased a new stake in shares of W. P. Carey during the 4th quarter valued at $48,000. Finally, Roxbury Financial LLC bought a new stake in shares of W. P. Carey during the 4th quarter worth $58,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.4 %

WPC stock opened at $62.67 on Monday. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The firm has a market capitalization of $13.71 billion, a PE ratio of 29.98, a PEG 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. The stock has a 50-day simple moving average of $60.04 and a two-hundred day simple moving average of $58.38.

W. P. Carey Increases Dividend

The company also recently announced 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 of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.68%. W. P. Carey’s dividend payout ratio is currently 170.33%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WPC shares. Wells Fargo & Company increased their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report 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 research note on Wednesday, February 19th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays raised their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Finally, Scotiabank upped their price target 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Company 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.