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

Shares of W.P. Carey Inc. (NYSE:WPC) have earned an average recommendation of “Hold” from the fourteen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $79.3846.

WPC has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of W.P. Carey in a report on Friday, July 31st. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Wells Fargo & Company boosted their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Citigroup restated a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Finally, Wolfe Research raised shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Monday, June 8th.

W.P. Carey Stock Performance

WPC stock opened at $71.66 on Monday. W.P. Carey has a twelve month low of $63.08 and a twelve month high of $77.22. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.56 and a beta of 0.75. The business’s fifty day simple moving average is $73.10 and its two-hundred day simple moving average is $72.43. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.94 dividend. The ex-dividend date was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.2%. W.P. Carey’s dividend payout ratio (DPR) is presently 128.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Jupiter Topco LLC bought a new stake in W.P. Carey during the 2nd quarter valued at $1,191,000. Hsbc Holdings PLC purchased a new stake in shares of W.P. Carey in the 2nd quarter worth $67,142,000. EFG International AG bought a new position in shares of W.P. Carey during the 2nd quarter worth $808,000. Ancora Advisors LLC bought a new position in shares of W.P. Carey during the 2nd quarter worth $41,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of W.P. Carey during the second quarter valued at $243,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

About W.P. Carey

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.