Brokerages Set W. P. Carey Inc. (NYSE:WPC) PT at $59.70

Shares of W. P. Carey Inc. (NYSE:WPC) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $59.70.

A number of analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. UBS Group started coverage on shares of W. P. Carey in a research report on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target on the stock. Barclays assumed coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Finally, Scotiabank raised their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $55.08 on Wednesday. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. W. P. Carey has a 12 month low of $51.36 and a 12 month high of $73.38. The stock’s 50 day moving average price is $56.69 and its 200 day moving average price is $58.79.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 6.32%. The ex-dividend date is Friday, June 28th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 131.56%.

Institutional Trading of W. P. Carey

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of W. P. Carey by 1.8% during the 3rd quarter. FMR LLC now owns 262,809 shares of the real estate investment trust’s stock valued at $14,213,000 after buying an additional 4,685 shares during the period. Invesco Ltd. grew its stake in W. P. Carey by 3.5% in the third quarter. Invesco Ltd. now owns 425,639 shares of the real estate investment trust’s stock valued at $23,019,000 after purchasing an additional 14,318 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in W. P. Carey in the 3rd quarter worth about $1,044,000. Covestor Ltd raised its stake in shares of W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 595 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of W. P. Carey during the 3rd quarter valued at about $1,667,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

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.