W. P. Carey Inc. (NYSE:WPC) Receives $62.00 Average Price Target from Brokerages

Shares of W. P. Carey Inc. (NYSE:WPC) have received a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $62.00.

WPC has been the subject of a number of recent research reports. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Barclays decreased 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 research note on Tuesday, February 4th. Scotiabank cut their price objective 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. Finally, UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th.

Institutional Investors Weigh In On W. P. Carey

A number of large investors have recently added to or reduced their stakes in WPC. National Pension Service bought a new position in shares of W. P. Carey during the fourth quarter valued at about $25,000. Maia Wealth LLC purchased a new position in W. P. Carey during the 3rd quarter valued at about $40,000. Abich Financial Wealth Management LLC raised its position in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in W. P. Carey in the 4th quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey in the 4th quarter worth approximately $37,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 2.7 %

Shares of WPC stock opened at $57.64 on Thursday. The business has a 50-day moving average price of $55.33 and a two-hundred day moving average price of $57.60. W. P. Carey has a 12-month low of $52.91 and a 12-month high of $64.26. 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 firm has a market cap of $12.61 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 1.02 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. Investors of record on Tuesday, December 31st were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 6.11%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

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.