Horan Capital Advisors LLC. Cuts Stake in W. P. Carey Inc. (NYSE:WPC)

Horan Capital Advisors LLC. reduced its position in W. P. Carey Inc. (NYSE:WPC) by 3.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,390 shares of the real estate investment trust’s stock after selling 936 shares during the period. Horan Capital Advisors LLC.’s holdings in W. P. Carey were worth $1,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Central Bank & Trust Co. purchased a new position in W. P. Carey in the fourth quarter worth $28,000. FNY Investment Advisers LLC purchased a new position in W. P. Carey in the 4th quarter worth $32,000. Covestor Ltd lifted its position in W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 595 shares during the period. First Horizon Advisors Inc. purchased a new stake in W. P. Carey during the 3rd quarter valued at about $45,000. Finally, Provence Wealth Management Group acquired a new position in shares of W. P. Carey in the third quarter valued at about $46,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on WPC. Barclays assumed coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Scotiabank dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Royal Bank of Canada lowered their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Wells Fargo & Company cut their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average price target of $63.18.

W. P. Carey Stock Up 1.4 %

Shares of WPC opened at $56.68 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 0.87. The firm has a market cap of $12.40 billion, a P/E ratio of 21.55, a PEG ratio of 0.45 and a beta of 0.86. The stock’s 50 day moving average is $55.87 and its two-hundred day moving average is $58.87. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $73.60.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 EPS. Analysts predict that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.865 dividend. This represents a $3.46 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is presently 131.56%.

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.