W.P. Carey Inc. $WPC Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,136 shares of the real estate investment trust’s stock after selling 7,761 shares during the period. Mutual of America Capital Management LLC’s holdings in W.P. Carey were worth $6,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WPC. PFG Investments LLC raised its stake in shares of W.P. Carey by 24.3% during the 3rd quarter. PFG Investments LLC now owns 14,344 shares of the real estate investment trust’s stock valued at $969,000 after buying an additional 2,805 shares during the last quarter. Orion Capital Management LLC acquired a new stake in W.P. Carey during the third quarter worth about $722,000. Resona Asset Management Co. Ltd. grew its holdings in W.P. Carey by 5.8% during the third quarter. Resona Asset Management Co. Ltd. now owns 127,862 shares of the real estate investment trust’s stock worth $8,689,000 after acquiring an additional 6,957 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in W.P. Carey by 149.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 283,045 shares of the real estate investment trust’s stock valued at $19,125,000 after acquiring an additional 169,755 shares in the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in W.P. Carey in the third quarter valued at approximately $14,355,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WPC. JPMorgan Chase & Co. decreased their target price on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, December 9th. Royal Bank Of Canada increased their target price on shares of W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 7th. Barclays set a $65.00 price target on W.P. Carey in a research note on Tuesday, January 13th. Citigroup increased their price target on W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.70.

W.P. Carey Price Performance

NYSE:WPC opened at $69.23 on Wednesday. The stock has a 50 day moving average of $66.45 and a two-hundred day moving average of $66.43. W.P. Carey Inc. has a 12 month low of $54.24 and a 12 month high of $70.28. The firm has a market cap of $15.17 billion, a P/E ratio of 41.96, a price-to-earnings-growth ratio of 5.85 and a beta of 0.79. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.02.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The firm had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $424.44 million. During the same period in the previous year, the business earned $1.18 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.3%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, December 31st. W.P. Carey’s dividend payout ratio (DPR) is currently 223.03%.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.