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

Horan Capital Advisors LLC. trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 17.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,254 shares of the real estate investment trust’s stock after selling 3,962 shares during the period. Horan Capital Advisors LLC.’s holdings in W. P. Carey were worth $994,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. RFG Advisory LLC boosted its position in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 3,049 shares during the period. Equity Investment Corp boosted its position in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in W. P. Carey during the third quarter valued at about $1,692,000. Stifel Financial Corp boosted its position in W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock valued at $1,980,000 after buying an additional 2,075 shares during the period. Finally, FMR LLC boosted its position in W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after buying an additional 409,593 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. UBS Group lowered 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 research note on Thursday, November 14th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Scotiabank lowered their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.38.

W. P. Carey Price Performance

WPC stock opened at $64.67 on Tuesday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.87. The company has a market cap of $14.15 billion, a P/E ratio of 30.94, a PEG ratio of 1.06 and a beta of 0.97. The firm has a 50-day moving average of $56.77 and a 200 day moving average of $57.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 168.42%.

About W. P. Carey

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.