Mutual of America Capital Management LLC Has $6.90 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Mutual of America Capital Management LLC cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,288 shares of the real estate investment trust’s stock after selling 5,003 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of W. P. Carey worth $6,897,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of WPC. Cohen & Steers Inc. grew its position in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after purchasing an additional 5,407,289 shares in the last quarter. Norges Bank acquired a new stake in W. P. Carey during the fourth quarter worth approximately $157,107,000. Equity Investment Corp bought a new position in W. P. Carey during the 1st quarter worth $59,802,000. Vanguard Group Inc. raised its holdings in W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after acquiring an additional 657,188 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after acquiring an additional 588,636 shares during the period. 73.73% of the stock is owned by institutional investors.

Insider Transactions at W. P. Carey

In related news, Director Mark A. Alexander acquired 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is owned by company insiders.

W. P. Carey Price Performance

W. P. Carey stock opened at $63.12 on Friday. The stock has a 50-day moving average price of $59.33 and a two-hundred day moving average price of $57.33. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40. The company has a market capitalization of $13.81 billion, a PE ratio of 24.16, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter last year, the business earned $1.36 EPS. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. Analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Wells Fargo & Company lifted their price objective on shares of W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Scotiabank lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reduced their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.30.

About W. P. Carey

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.