W. P. Carey Inc. (NYSE:WPC) Given Average Rating of “Hold” by Brokerages

Shares of W. P. Carey Inc. (NYSE:WPC) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.70.

A number of research firms have issued reports on WPC. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Wells Fargo & Company reduced their price objective 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. 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 on the stock. Royal Bank of Canada reduced their price target 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. Finally, Scotiabank raised their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th.

W. P. Carey Stock Performance

Shares of WPC opened at $55.24 on Wednesday. The firm has a fifty day moving average of $56.66 and a 200-day moving average of $58.90. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. W. P. Carey has a 1 year low of $51.36 and a 1 year high of $73.38.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 6.30%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, June 28th. W. P. Carey’s dividend payout ratio is presently 132.32%.

Institutional Trading of W. P. Carey

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First United Bank & Trust bought a new stake in shares of W. P. Carey during the 4th quarter worth $27,000. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey in the 4th quarter valued at $28,000. Richardson Financial Services Inc. purchased a new position in W. P. Carey in the 1st quarter worth about $26,000. Riverview Trust Co purchased a new stake in W. P. Carey during the first quarter valued at about $28,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of W. P. Carey in the fourth quarter worth about $32,000. 73.73% of the stock is owned by institutional investors and hedge funds.

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.