Rodgers Brothers Inc. Takes Position in W. P. Carey Inc. (NYSE:WPC)

Rodgers Brothers Inc. purchased a new position in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, HoldingsChannel reports. The firm purchased 41,750 shares of the real estate investment trust’s stock, valued at approximately $2,275,000.

Several other large investors also recently added to or reduced their stakes in the stock. National Pension Service purchased a new position in shares of W. P. Carey in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in W. P. Carey in the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey during the fourth quarter worth $37,000. Plato Investment Management Ltd bought a new position in W. P. Carey during the fourth quarter valued at $48,000. Finally, Hoey Investments Inc. purchased a new stake in shares of W. P. Carey in the fourth quarter valued at $48,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Price Performance

Shares of WPC stock opened at $62.67 on Monday. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve 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. The stock has a fifty day simple moving average of $60.04 and a two-hundred day simple moving average of $58.38. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Scotiabank upped their target price on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note 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 company an “outperform” rating in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.75.

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.