W. P. Carey (NYSE:WPC) Price Target Raised to $64.00

W. P. Carey (NYSE:WPC) had its price target increased by Evercore ISI from $60.00 to $64.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

A number of other research analysts have also commented on WPC. Royal Bank of Canada upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $67.00 in a report on Tuesday. Finally, Scotiabank decreased their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Stock Up 0.8 %

WPC opened at $61.68 on Wednesday. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $64.26. The stock’s fifty day simple moving average is $55.87 and its 200 day simple moving average is $57.68. 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 $13.50 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 5.71%. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

Hedge Funds Weigh In On W. P. Carey

A number of hedge funds have recently made changes to their positions in the stock. DF Dent & Co. Inc. grew its stake in W. P. Carey by 3.5% during the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 183 shares during the period. HighTower Advisors LLC grew its stake in W. P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after acquiring an additional 193 shares during the period. Harbour Investments Inc. boosted its position in shares of 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 valued at $226,000 after buying an additional 203 shares during the last quarter. Creative Planning boosted its position in shares of W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after buying an additional 207 shares during the last quarter. Finally, Demars Financial Group LLC lifted its holdings in W. P. Carey by 2.2% during the third quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 216 shares during the period. 73.73% of the stock is currently 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.