Kingswood Wealth Advisors LLC Sells 14,896 Shares of W.P. Carey Inc. $WPC

Key Points

• Kingswood Wealth Advisors LLC has decreased its stake in W.P. Carey Inc. by 69.5%, selling 14,896 shares during the second quarter, resulting in a remaining ownership of 6,538 shares valued at $408,000.
• W.P. Carey reported earnings of $1.28 per share for the last quarter, surpassing analysts' expectations and demonstrating a 10.5% increase in revenue compared to the previous year.
• The company announced a dividend increase from $0.90 to $0.91 per share, which yields 5.4%, with the next payment scheduled for October 15th.

Kingswood Wealth Advisors LLC reduced its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 69.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,538 shares of the real estate investment trust's stock after selling 14,896 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in W.P. Carey were worth $408,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in W.P. Carey in the 1st quarter valued at about $26,000. TCTC Holdings LLC raised its holdings in W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 242 shares during the period. Cheviot Value Management LLC bought a new position in W.P. Carey in the 1st quarter valued at about $37,000. V Square Quantitative Management LLC bought a new position in shares of W.P. Carey during the second quarter worth approximately $40,000. Finally, Hilltop National Bank bought a new position in shares of W.P. Carey during the second quarter worth approximately $43,000. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Performance

NYSE WPC opened at $66.81 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 43.95, a P/E/G ratio of 9.70 and a beta of 0.81. The firm's 50 day simple moving average is $66.98 and its 200 day simple moving average is $63.68. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.79.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The firm had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. During the same quarter last year, the business posted $1.17 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.91 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, September 30th. W.P. Carey's dividend payout ratio (DPR) is 239.47%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company raised shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of W.P. Carey in a report on Wednesday. Evercore ISI raised their target price on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Royal Bank Of Canada raised their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Scotiabank raised their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $67.22.

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.

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