Amalgamated Bank Has $5.70 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,538 shares of the real estate investment trust’s stock after purchasing an additional 337 shares during the quarter. Amalgamated Bank’s holdings in W. P. Carey were worth $5,695,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC lifted its holdings in W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 3,049 shares during the period. Equity Investment Corp raised its position in shares of W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of W. P. Carey in the 3rd quarter valued at about $1,692,000. abrdn plc grew its stake in W. P. Carey by 9.9% during the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after purchasing an additional 9,229 shares during the period. Finally, Stifel Financial Corp increased its holdings in W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $64.25 on Friday. 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 market cap of $14.06 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The stock’s fifty day simple moving average is $56.57 and its two-hundred day simple moving average is $57.89. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.68.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 168.42%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays lowered their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their price target on shares of 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, Evercore ISI raised their price objective on shares of 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. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.38.

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.