Atria Wealth Solutions Inc. raised its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,073 shares of the real estate investment trust's stock after acquiring an additional 36,354 shares during the period. Atria Wealth Solutions Inc.'s holdings in W. P. Carey were worth $5,567,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Maia Wealth LLC bought a new position in W. P. Carey in the third quarter valued at about $40,000. Abich Financial Wealth Management LLC grew its position in W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 641 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey in the fourth quarter valued at about $37,000. Fortitude Family Office LLC grew its position in W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 616 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in W. P. Carey in the third quarter valued at about $44,000. Institutional investors own 73.73% of the company's stock.
W. P. Carey Price Performance
Shares of NYSE:WPC traded up $0.36 on Friday, hitting $61.56. The company's stock had a trading volume of 610,932 shares, compared to its average volume of 1,017,314. The company has a 50-day simple moving average of $55.78 and a 200 day simple moving average of $57.64. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The company has a market capitalization of $13.47 billion, a PE ratio of 29.45, a PEG ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.72%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey's dividend payout ratio (DPR) is currently 168.42%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $67.00 in a report on Tuesday. Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday. Finally, Scotiabank dropped their price target on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $62.38.
Read Our Latest Report on WPC
About W. P. Carey
(
Free Report)
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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