Mutual of America Capital Management LLC Sells 3,740 Shares of W.P. Carey Inc. $WPC

Mutual of America Capital Management LLC lowered its holdings in W.P. Carey Inc. (NYSE:WPC) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,897 shares of the real estate investment trust’s stock after selling 3,740 shares during the quarter. Mutual of America Capital Management LLC’s holdings in W.P. Carey were worth $6,793,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in W.P. Carey in the first quarter worth $26,000. TCTC Holdings LLC raised its holdings in W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 242 shares during the period. Cheviot Value Management LLC acquired a new stake in W.P. Carey in the first quarter worth $37,000. V Square Quantitative Management LLC acquired a new stake in W.P. Carey in the second quarter worth $40,000. Finally, REAP Financial Group LLC increased its position in shares of W.P. Carey by 56.4% during the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 238 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Performance

Shares of WPC opened at $68.67 on Tuesday. The firm has a 50-day moving average of $67.27 and a 200-day moving average of $63.95. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.79. The company has a market cap of $15.04 billion, a PE ratio of 45.17, a price-to-earnings-growth ratio of 9.90 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The company had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. During the same quarter last year, the firm posted $1.17 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities 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 Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.91 per share. The ex-dividend date was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.3%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is 239.47%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Scotiabank increased their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Friday, September 5th. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Barclays increased their price objective on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.44.

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.