W. P. Carey (NYSE:WPC) Reaches New 52-Week High – What’s Next?

Shares of W. P. Carey Inc. (NYSE:WPC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $64.57 and last traded at $64.62, with a volume of 996267 shares changing hands. The stock had previously closed at $62.73.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of analyst reports. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Scotiabank lowered their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays dropped their price target on shares of 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. Finally, UBS Group decreased their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. 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. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average price target of $62.38.

W. P. Carey Trading Up 2.9 %

The company’s 50-day moving average is $55.99 and its 200-day moving average is $57.74. 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 firm has a market cap of $14.12 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is 168.42%.

Hedge Funds Weigh In On W. P. Carey

Several hedge funds have recently added to or reduced their stakes in the company. National Pension Service bought a new stake in W. P. Carey in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey during the fourth quarter worth $37,000. Millstone Evans Group LLC bought a new stake in shares of W. P. Carey in the fourth quarter valued at about $37,000. Maia Wealth LLC bought a new stake in W. P. Carey in the 3rd quarter valued at approximately $40,000. Finally, Bessemer Group Inc. lifted its position in shares of W. P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

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.