Horan Capital Advisors LLC. Sells 3,962 Shares of W. P. Carey Inc. (NYSE:WPC)

Horan Capital Advisors LLC. lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 17.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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.

A number of other hedge funds also recently modified their holdings of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $127,969,000 after purchasing an additional 1,784,131 shares during the period. Victory Capital Management Inc. raised its holdings in W. P. Carey by 649.4% during 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 acquiring an additional 479,973 shares during the period. FMR LLC raised its holdings in W. P. Carey by 103.3% during the 3rd 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 raised its holdings in W. P. Carey by 26.3% during the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after acquiring an additional 389,107 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in 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 valued at $25,282,000 after acquiring an additional 297,432 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WPC. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. 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 research report on Thursday, February 13th. Finally, Evercore ISI boosted their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company 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 given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Stock Up 0.7 %

Shares of NYSE:WPC opened at $64.67 on Tuesday. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.87. The firm has a fifty day moving average of $56.77 and a 200 day moving average of $57.96. The firm has a market capitalization of $14.15 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 5.44%. W. P. Carey’s payout ratio is 168.42%.

W. P. Carey Company 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.