W. P. Carey (NYSE:WPC) Price Target Raised to $60.00

W. P. Carey (NYSE:WPC) had its price objective hoisted by Barclays from $56.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

WPC has been the subject of several other research reports. Scotiabank reduced their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. UBS Group reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Evercore ISI boosted their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Trading Down 1.7 %

NYSE:WPC opened at $63.95 on Tuesday. W. P. Carey has a one year low of $52.91 and a one year high of $65.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $13.99 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.06 and a beta of 0.97. The firm has a 50-day simple moving average of $57.36 and a 200-day simple moving average of $58.11.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 5.50%. The ex-dividend date was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 168.42%.

Institutional Trading of W. P. Carey

Several large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of W. P. Carey in the 4th quarter valued at $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 valued at $127,969,000 after acquiring an additional 1,784,131 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of W. P. Carey by 10,001.1% in the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock valued at $54,387,000 after acquiring an additional 988,409 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after acquiring an additional 906,622 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of W. P. Carey by 40.3% in the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock valued at $143,894,000 after acquiring an additional 758,627 shares during the last quarter. Hedge funds and other 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.