Eldridge Investment Advisors Inc. Has $434,000 Stock Position in W. P. Carey Inc. (NYSE:WPC)

Eldridge Investment Advisors Inc. reduced its position in W. P. Carey Inc. (NYSE:WPC) by 4.8% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WPC. HighTower Advisors LLC lifted its holdings in W. P. Carey by 0.4% during the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after acquiring an additional 193 shares in the last quarter. Harbour Investments Inc. lifted its holdings in W. P. Carey by 5.9% during the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 203 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in W. P. Carey by 3.1% during 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 acquiring an additional 259 shares in the last quarter. Empowered Funds LLC lifted its holdings in W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 271 shares in the last quarter. Finally, Cooper Financial Group lifted its holdings in W. P. Carey by 2.4% during the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 276 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WPC has been the topic of several recent analyst reports. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Wells Fargo & Company lifted 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. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada lifted 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Price Performance

NYSE:WPC opened at $62.64 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50-day simple moving average is $58.57 and its 200 day simple moving average is $58.31. The company has a market cap of $13.71 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.06 and a beta of 0.95. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 168.42%.

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.