Mutual of America Capital Management LLC Has $6.30 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Mutual of America Capital Management LLC trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,605 shares of the real estate investment trust’s stock after selling 2,673 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of W. P. Carey worth $6,298,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. National Pension Service bought a new stake in W. P. Carey in the fourth quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey in the fourth quarter valued at $37,000. Maia Wealth LLC bought a new stake in W. P. Carey in the third quarter valued at $40,000. RPg Family Wealth Advisory LLC bought a new stake in W. P. Carey in the third quarter valued at $44,000. Finally, Allspring Global Investments Holdings LLC grew its position in W. P. Carey by 70.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 341 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of WPC stock opened at $64.67 on Tuesday. The stock has a 50-day moving average price of $56.77 and a 200 day moving average price of $57.96. 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 firm has a market cap of $14.15 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.87.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 5.44%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 168.42%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Royal Bank of Canada raised their target price on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Barclays lowered their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.38.

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.