Horizon Kinetics Asset Management LLC Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Horizon Kinetics Asset Management LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 57.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,700 shares of the real estate investment trust’s stock after buying an additional 12,300 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in W. P. Carey were worth $2,100,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares during the period. Quarry LP lifted its position in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of W. P. Carey during the 2nd quarter valued at approximately $34,000. Finally, Maia Wealth LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Scotiabank cut their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Evercore ISI raised their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Price Performance

NYSE:WPC opened at $57.81 on Monday. The stock has a 50 day moving average price of $58.95 and a 200 day moving average price of $58.23. The stock has a market cap of $12.65 billion, a PE ratio of 22.48, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business earned $1.32 earnings per share. Equities research analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 6.05%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is presently 137.80%.

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.