W.P. Carey Inc. $WPC Stake Lowered by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. significantly reduced its stake in W.P. Carey Inc. by 85.2%, now owning 15,381 shares worth approximately $971,000 after selling 88,779 shares in the second quarter.
• W.P. Carey recently boosted its quarterly dividend from $0.90 to $0.91 per share, representing a 5.3% dividend yield.
• Research analysts have shown mixed sentiments, with Barclays and Wells Fargo adjusting their price targets, indicating a consensus rating of "Hold" and an average target price of $67.22.

Atria Wealth Solutions Inc. reduced its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 85.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,381 shares of the real estate investment trust's stock after selling 88,779 shares during the period. Atria Wealth Solutions Inc.'s holdings in W.P. Carey were worth $971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Concord Wealth Partners grew its holdings in shares of W.P. Carey by 14.9% during the 2nd quarter. Concord Wealth Partners now owns 2,055 shares of the real estate investment trust's stock valued at $128,000 after acquiring an additional 266 shares in the last quarter. Griffin Asset Management Inc. boosted its holdings in W.P. Carey by 0.6% in the second quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust's stock worth $2,011,000 after purchasing an additional 178 shares in the last quarter. MGO One Seven LLC boosted its holdings in W.P. Carey by 14.9% in the second quarter. MGO One Seven LLC now owns 7,165 shares of the real estate investment trust's stock worth $447,000 after purchasing an additional 927 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in W.P. Carey by 10.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,723 shares of the real estate investment trust's stock worth $2,166,000 after purchasing an additional 3,178 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in W.P. Carey by 50.8% in the second quarter. Fifth Third Wealth Advisors LLC now owns 9,364 shares of the real estate investment trust's stock worth $584,000 after purchasing an additional 3,155 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a report on Wednesday, August 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of W.P. Carey in a report on Wednesday, October 8th. Scotiabank upped their price objective 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. Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Royal Bank Of Canada upped their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, W.P. Carey presently has a consensus rating of "Hold" and an average target price of $67.22.

W.P. Carey Stock Up 0.4%

Shares of WPC opened at $68.47 on Friday. The company has a 50-day simple moving average of $67.20 and a 200-day simple moving average of $63.86. The firm has a market capitalization of $14.99 billion, a P/E ratio of 45.04, a P/E/G ratio of 9.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS 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 business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same quarter in the prior year, the business earned $1.17 earnings per share. The firm's revenue for the quarter 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. On average, equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 5.3%. W.P. Carey's dividend payout ratio (DPR) is 239.47%.

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.

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