W. P. Carey (NYSE:WPC) Upgraded by BMO Capital Markets to Outperform Rating

BMO Capital Markets upgraded shares of W. P. Carey (NYSE:WPC) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, MarketBeat.com reports. BMO Capital Markets currently has $67.00 target price on the real estate investment trust’s stock, up from their prior target price of $60.00.

Several other analysts also recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. UBS Group lowered their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Barclays lowered 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 report on Tuesday, February 4th. Finally, Scotiabank cut their price target on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.38.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $61.17 on Tuesday. The stock has a market cap of $13.39 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $64.26. The firm’s 50-day moving average is $55.78 and its 200 day moving average is $57.64.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 5.75%. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 168.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. RFG Advisory LLC raised its stake in shares of W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 3,049 shares during the period. Equity Investment Corp grew its position in shares of W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after buying an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in W. P. Carey during the 3rd quarter worth about $1,692,000. abrdn plc lifted its position in shares of W. P. Carey by 9.9% in the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after purchasing an additional 9,229 shares during the period. Finally, Stifel Financial Corp lifted its holdings in W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after buying an additional 2,075 shares during the period. 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.