W. P. Carey Inc. (NYSE:WPC) Receives $63.75 Average Price Target from Analysts

Shares of W. P. Carey Inc. (NYSE:WPC) have earned an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $63.75.

Several analysts have recently issued reports on the company. Barclays upped their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company upped their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Scotiabank lifted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Evercore ISI upped 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 report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th.

Institutional Investors Weigh In On W. P. Carey

Several hedge funds have recently made changes to their positions in the stock. National Pension Service acquired a new position in W. P. Carey in the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey in the fourth quarter valued at $37,000. Millstone Evans Group LLC bought a new position in W. P. Carey in the fourth quarter worth $37,000. Bessemer Group Inc. boosted its stake in W. P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 402 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in W. P. Carey in the 3rd quarter valued at $44,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $62.67 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey has a 12 month low of $52.91 and a 12 month high of $66.10. The company’s fifty day moving average is $60.04 and its 200-day moving average is $58.38. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.68%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

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.