Atria Wealth Solutions Inc. grew its position in shares of W. P. Carey Inc. (NYSE:WPC – Free Report) by 31.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 70,204 shares of the real estate investment trust’s stock after acquiring an additional 16,673 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in W. P. Carey were worth $3,806,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in W. P. Carey in the first quarter worth $26,000. Acadian Asset Management LLC bought a new stake in W. P. Carey in the first quarter worth $26,000. ICA Group Wealth Management LLC bought a new stake in W. P. Carey in the fourth quarter worth $32,000. Quarry LP lifted its position in shares of W. P. Carey by 438.5% during the second quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 342 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of W. P. Carey during the third quarter worth $29,000. 62.62% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on W. P. Carey from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, January 11th. Raymond James raised their price target on W. P. Carey from $63.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, January 8th. JMP Securities lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, November 13th. Finally, StockNews.com began coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.60.
W. P. Carey Trading Up 0.7 %
W. P. Carey stock opened at $61.34 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.85. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $85.36. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 7.68 and a beta of 0.89. The stock has a 50-day moving average price of $64.35 and a 200 day moving average price of $61.51.
W. P. Carey Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date was Thursday, December 28th. W. P. Carey’s dividend payout ratio (DPR) is 94.51%.
W. P. Carey Profile
Celebrating its 50th anniversary, 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 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.
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