Horan Capital Advisors LLC. Sells 410 Shares of W. P. Carey Inc. (NYSE:WPC)

Horan Capital Advisors LLC. lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 1.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,216 shares of the real estate investment trust’s stock after selling 410 shares during the period. Horan Capital Advisors LLC.’s holdings in W. P. Carey were worth $1,384,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of W. P. Carey by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after buying an additional 187,022 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after acquiring an additional 588,636 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after purchasing an additional 7,549 shares during the last quarter. Finally, PGGM Investments increased its position in shares of W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of NYSE:WPC opened at $56.23 on Tuesday. The firm’s 50 day simple moving average is $59.41 and its 200 day simple moving average is $58.24. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter last year, the business posted $1.32 earnings per share. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.22%. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 137.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WPC shares. Barclays raised their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Scotiabank cut their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Evercore ISI increased their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada decreased their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.88.

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.