Horizon Kinetics Asset Management LLC Acquires 1,450 Shares of W. P. Carey Inc. (NYSE:WPC)

Horizon Kinetics Asset Management LLC grew its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 35,150 shares of the real estate investment trust’s stock after purchasing an additional 1,450 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in W. P. Carey were worth $1,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC grew its position in W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after acquiring an additional 193 shares during the last quarter. Harbour Investments Inc. grew its position in W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 203 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after acquiring an additional 259 shares during the last quarter. Empowered Funds LLC grew its position in W. P. Carey by 7.7% during the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 271 shares during the last quarter. Finally, Cooper Financial Group grew its position in W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays upped their price target on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Wells Fargo & Company upped their price target on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Royal Bank of Canada upped their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Up 1.6 %

Shares of NYSE:WPC opened at $62.64 on Monday. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day moving average is $58.57 and its 200-day moving average is $58.30. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s payout ratio is currently 170.33%.

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.