Eldridge Investment Advisors Inc. Sells 400 Shares of W. P. Carey Inc. (NYSE:WPC)

Eldridge Investment Advisors Inc. lessened its position in shares of W. P. Carey Inc. (NYSE:WPC) by 4.8% in the fourth quarter, HoldingsChannel reports. The fund owned 7,963 shares of the real estate investment trust’s stock after selling 400 shares during the period. Eldridge Investment Advisors Inc.’s holdings in W. P. Carey were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in WPC. National Pension Service bought a new stake in shares of W. P. Carey during the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $37,000. RPg Family Wealth Advisory LLC bought a new stake in shares of W. P. Carey in the third quarter valued at approximately $44,000. Plato Investment Management Ltd bought a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $48,000. Finally, Roxbury Financial LLC bought a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $58,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WPC. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Scotiabank upped their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Stock Up 1.6 %

Shares of NYSE:WPC opened at $62.64 on Friday. The company has a fifty day moving average of $58.57 and a 200-day moving average of $58.31. The company has a market capitalization of $13.71 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. The ex-dividend date is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. W. P. Carey’s dividend payout ratio is 168.42%.

W. P. Carey Company 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.