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

Horizon Kinetics Asset Management LLC raised its stake in W. P. Carey Inc. (NYSE:WPC) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service bought a new position in shares of W. P. Carey during the 4th quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey during the 4th quarter worth approximately $37,000. RPg Family Wealth Advisory LLC bought a new position in shares of W. P. Carey during the 3rd quarter worth approximately $44,000. Plato Investment Management Ltd bought a new position in shares of W. P. Carey during the 4th quarter worth approximately $48,000. Finally, Roxbury Financial LLC bought a new position in shares of W. P. Carey during the 4th quarter worth approximately $58,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $62.64 on Monday. The stock has a market capitalization of $13.71 billion, a PE 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 has a fifty day moving average price of $58.57 and a two-hundred day moving average price of $58.30. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WPC shares. Royal Bank of Canada lifted their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Scotiabank lifted their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Wells Fargo & Company lifted their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.75.

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.