Horizon Kinetics Asset Management LLC Raises 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 - Free Report) by 57.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,700 shares of the real estate investment trust's stock after buying an additional 12,300 shares during the period. Horizon Kinetics Asset Management LLC's holdings in W. P. Carey were worth $2,100,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. boosted its position in shares of W. P. Carey by 12.9% during the 1st quarter. 1832 Asset Management L.P. now owns 30,434 shares of the real estate investment trust's stock valued at $1,718,000 after acquiring an additional 3,485 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of W. P. Carey by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 157,771 shares of the real estate investment trust's stock worth $8,906,000 after buying an additional 5,975 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of W. P. Carey in the 1st quarter worth about $214,000. B. Riley Wealth Advisors Inc. raised its position in shares of W. P. Carey by 14.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,104 shares of the real estate investment trust's stock valued at $888,000 after buying an additional 2,058 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of W. P. Carey during the 1st quarter valued at about $342,000. 73.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the topic of several analyst reports. UBS Group reduced their price objective on 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. Wells Fargo & Company restated an "equal weight" rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank dropped 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 note on Wednesday, August 7th. Royal Bank of Canada cut their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Finally, Barclays raised their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of "Hold" and an average target price of $62.88.

W. P. Carey Stock Up 0.8 %

Shares of WPC traded up $0.48 during midday trading on Monday, reaching $57.58. 2,140,150 shares of the stock were exchanged, compared to its average volume of 1,211,678. The company has a market capitalization of $12.60 billion, a P/E ratio of 22.65, a PEG ratio of 1.06 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The company's 50 day moving average is $58.95 and its two-hundred day moving average is $58.23.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million during the quarter, compared to analysts' expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 EPS. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.08%. 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%.

W. P. Carey Profile

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.