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

Shares of W. P. Carey Inc. (NYSE:WPC) have received a consensus rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $59.70.

Several research firms have recently weighed in on WPC. Royal Bank of Canada reduced their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. UBS Group began coverage on W. P. Carey in a research report on Friday, May 31st. They issued a “neutral” rating and a $57.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Barclays began coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th.

W. P. Carey Trading Up 0.8 %

Shares of WPC stock opened at $55.04 on Wednesday. W. P. Carey has a 12 month low of $51.36 and a 12 month high of $73.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The company has a market cap of $12.04 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. The business’s 50 day moving average is $56.63 and its two-hundred day moving average is $58.58.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.87 per share. The ex-dividend date is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 6.32%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 132.32%.

Hedge Funds Weigh In On W. P. Carey

Institutional investors have recently modified their holdings of the business. Richardson Financial Services Inc. bought a new position in shares of W. P. Carey during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares in the last quarter. First United Bank & Trust bought a new position in shares of W. P. Carey during the 4th quarter valued at about $27,000. Central Bank & Trust Co. bought a new position in shares of W. P. Carey during the 4th quarter valued at about $28,000. Finally, Riverview Trust Co bought a new position in shares of W. P. Carey during the 1st quarter valued at about $28,000. 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.