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

W. P. Carey Inc. (NYSE:WPC) has been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages 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. Barclays decreased their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Scotiabank dropped their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th.

W. P. Carey Stock Down 0.5 %

Shares of NYSE WPC opened at $55.78 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $64.26. The stock has a market capitalization of $12.21 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a 50-day moving average price of $55.28 and a 200-day moving average price of $57.63.

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 paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.31%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

Hedge Funds Weigh In On W. P. Carey

Several institutional investors have recently added to or reduced their stakes in WPC. National Pension Service purchased a new position in W. P. Carey in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey in the fourth quarter valued at approximately $37,000. Maia Wealth LLC bought a new position in W. P. Carey during the third quarter valued at $40,000. Abich Financial Wealth Management LLC increased its position in W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 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.