Horan Capital Advisors LLC. reduced its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,254 shares of the real estate investment trust's stock after selling 3,962 shares during the quarter. Horan Capital Advisors LLC.'s holdings in W. P. Carey were worth $994,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock valued at $127,969,000 after buying an additional 1,784,131 shares during the period. Victory Capital Management Inc. lifted its holdings in W. P. Carey by 649.4% in the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust's stock worth $34,507,000 after acquiring an additional 479,973 shares during the last quarter. FMR LLC boosted its stake in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock valued at $50,219,000 after acquiring an additional 409,593 shares during the period. Equity Investment Corp grew its holdings in shares of W. P. Carey by 26.3% during the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock valued at $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of W. P. Carey by 274.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust's stock worth $25,282,000 after purchasing an additional 297,432 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on WPC shares. Barclays boosted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research report on Tuesday. Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Evercore ISI upped their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $62.88.
Read Our Latest Research Report on WPC
W. P. Carey Price Performance
Shares of WPC stock traded up $0.78 during midday trading on Friday, reaching $64.74. 1,410,553 shares of the company were exchanged, compared to its average volume of 1,112,056. The company's 50 day moving average price is $57.54 and its two-hundred day moving average price is $58.15. The company has a market cap of $14.17 billion, a P/E ratio of 30.98, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $65.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is currently 168.42%.
W. P. Carey Profile
(
Free Report)
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.
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