W. P. Carey Inc. (NYSE:WPC) Given Average Rating of “Hold” by Analysts

W. P. Carey Inc. (NYSE:WPC) has been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $62.88.

A number of equities research analysts have weighed in on WPC shares. Evercore ISI boosted their target price 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. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays boosted their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday. UBS Group decreased their target price on shares of 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. Finally, Scotiabank decreased their target price on shares of 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.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $64.74 on Monday. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $65.45. The firm has a market cap of $14.17 billion, a P/E ratio of 30.98, a PEG ratio of 1.06 and a beta of 0.95. The company has a 50 day moving average of $57.54 and a 200 day moving average of $58.15. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.44%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is presently 168.42%.

Institutional Trading of W. P. Carey

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in W. P. Carey by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock worth $1,679,110,000 after purchasing an additional 242,576 shares in the last quarter. Geode Capital Management LLC lifted its stake in W. P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock worth $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock worth $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in W. P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock worth $143,926,000 after purchasing an additional 43,197 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in W. P. Carey by 40.3% in the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

About W. P. Carey

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.