W. P. Carey (NYSE:WPC) Price Target Cut to $56.00 by Analysts at Barclays

W. P. Carey (NYSE:WPC) had its target price lowered by Barclays from $59.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an underweight rating on the real estate investment trust’s stock.

A number of other equities analysts have also commented on WPC. Scotiabank dropped their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Finally, UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.00.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $55.18 on Tuesday. The stock has a 50 day moving average of $55.36 and a 200 day moving average of $57.71. W. P. Carey has a 12 month low of $52.91 and a 12 month high of $64.26. The firm has a market cap of $12.08 billion, a PE ratio of 21.72, a PEG ratio of 1.01 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 6.38%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

Institutional Investors Weigh In On W. P. Carey

Institutional investors have recently modified their holdings of the stock. Maia Wealth LLC bought a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $40,000. Abich Financial Wealth Management LLC lifted its stake in shares of W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 641 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey during the 4th quarter worth approximately $37,000. Fortitude Family Office LLC lifted its stake in shares of W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 616 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $44,000. 73.73% of the stock is owned by 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.