W. P. Carey Inc. (NYSE:WPC) Shares Bought by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 57.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,700 shares of the real estate investment trust’s stock after purchasing an additional 12,300 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in W. P. Carey were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its stake in W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after buying an additional 588,636 shares during the period. Victory Capital Management Inc. increased its holdings in W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares during the last quarter. Hsbc Holdings PLC increased its holdings in W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after purchasing an additional 444,785 shares during the last quarter. Equity Investment Corp raised its position in W. P. Carey by 38.9% in the second quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock valued at $81,035,000 after purchasing an additional 412,450 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of W. P. Carey by 6,145.1% during the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WPC shares. Scotiabank cut their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Barclays raised their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Trading Up 1.2 %

NYSE WPC opened at $57.81 on Monday. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The firm has a 50 day moving average of $58.95 and a two-hundred day moving average of $58.23. The stock has a market capitalization of $12.65 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

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

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.05%. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 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.