Rodgers Brothers Inc. Invests $2.28 Million in W. P. Carey Inc. (NYSE:WPC)

Rodgers Brothers Inc. acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,750 shares of the real estate investment trust’s stock, valued at approximately $2,275,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WPC. HighTower Advisors LLC boosted its stake in shares of W. P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after buying an additional 193 shares during the last quarter. Capital Investment Advisory Services LLC boosted its position in W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after purchasing an additional 259 shares during the last quarter. Empowered Funds LLC boosted its position in W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 271 shares during the last quarter. Cooper Financial Group increased its position in shares of W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 276 shares during the last quarter. Finally, Impact Partnership Wealth LLC lifted its stake in shares of W. P. Carey by 3.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock worth $452,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on WPC shares. Barclays boosted their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Wells Fargo & Company upped their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Performance

NYSE:WPC opened at $62.67 on Monday. The stock has a 50-day moving average price of $60.04 and a 200 day moving average price of $58.38. The stock has a market capitalization of $13.71 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.89 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

W. P. Carey 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.