Atria Investments Inc Sells 1,422 Shares of W. P. Carey Inc. (NYSE:WPC)

Atria Investments Inc decreased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,886 shares of the real estate investment trust’s stock after selling 1,422 shares during the period. Atria Investments Inc’s holdings in W. P. Carey were worth $865,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares during the last quarter. Quarry LP grew its position in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of W. P. Carey during the 2nd quarter worth approximately $34,000. Finally, EdgeRock Capital LLC purchased a new position in shares of W. P. Carey in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the topic of several recent research reports. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada dropped their target price 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. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays boosted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Price Performance

Shares of WPC stock opened at $56.23 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock’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 firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.04 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $377.43 million. During the same period last year, the firm earned $1.32 EPS. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal 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 paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.22%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is presently 137.80%.

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.