Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 440,538 W.P. Carey Inc. $WPC

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 440,538 shares of the real estate investment trust’s stock, valued at approximately $31,498,000.

Several other hedge funds have also made changes to their positions in the stock. Jacobi Capital Management LLC boosted its position in W.P. Carey by 2.5% during the 4th quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 145 shares during the period. Kestra Private Wealth Services LLC lifted its stake in W.P. Carey by 0.7% in the first quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock valued at $1,459,000 after buying an additional 146 shares during the last quarter. Gen Wealth Partners Inc boosted its holdings in shares of W.P. Carey by 2.0% during the fourth quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock valued at $487,000 after acquiring an additional 146 shares during the period. Turning Point Benefit Group Inc. boosted its holdings in shares of W.P. Carey by 6.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 148 shares during the period. Finally, Vanderbilt University grew its position in shares of W.P. Carey by 1.1% during the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock worth $1,017,000 after acquiring an additional 162 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Performance

Shares of WPC opened at $72.12 on Friday. The firm has a market capitalization of $16.43 billion, a PE ratio of 24.61, a P/E/G ratio of 3.59 and a beta of 0.75. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $72.82 and a 200 day moving average price of $72.53. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.94 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s dividend payout ratio (DPR) is 128.33%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. Royal Bank Of Canada upped their target price on shares of W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Evercore set a $77.00 price objective on W.P. Carey in a research report on Thursday, July 30th. Finally, Barclays increased their price objective on W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, W.P. Carey currently has a consensus rating of “Hold” and an average target price of $79.38.

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.