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

Shares of W. P. Carey Inc. (NYSE:WPC) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $62.00.

Several equities research analysts have commented on the stock. UBS Group cut their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Scotiabank cut their price objective 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. Barclays reduced their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WPC. National Pension Service purchased a new position in W. P. Carey during the fourth quarter worth about $25,000. Maia Wealth LLC purchased a new position in shares of W. P. Carey during the third quarter worth about $40,000. Abich Financial Wealth Management LLC grew its holdings in shares of W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of W. P. Carey in the fourth quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey in the fourth quarter valued at approximately $37,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 2.7 %

WPC stock opened at $57.64 on Thursday. The stock has a fifty day moving average of $55.33 and a 200-day moving average of $57.60. W. P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 6.11%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

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.