Barclays Has Lowered Expectations for W. P. Carey (NYSE:WPC) Stock Price

W. P. Carey (NYSE:WPC) had its price objective reduced by Barclays from $59.00 to $56.00 in a research report report published on Tuesday, MarketBeat Ratings reports. Barclays currently has an underweight rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on WPC. 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. 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.00.

W. P. Carey Stock Up 0.4 %

WPC stock opened at $56.15 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s 50-day simple moving average is $55.30 and its 200 day simple moving average is $57.69. The company has a market cap of $12.29 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $64.26.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.27%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. bought a new position in W. P. Carey in the 4th quarter worth approximately $31,442,000. Victory Capital Management Inc. raised its position in W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after purchasing an additional 479,973 shares during the last quarter. FMR LLC raised its position in W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after purchasing an additional 409,593 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after purchasing an additional 400,782 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

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.