W. P. Carey (NYSE:WPC) Trading 3.3% Higher – Should You Buy?

W. P. Carey Inc. (NYSE:WPC)’s share price shot up 3.3% during trading on Monday . The company traded as high as $63.37 and last traded at $63.85. 174,941 shares changed hands during trading, a decline of 85% from the average session volume of 1,160,259 shares. The stock had previously closed at $61.81.

Analyst Ratings Changes

A number of research firms recently issued reports on WPC. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays upped their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Evercore ISI upped their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Price Performance

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average of $60.31 and a 200-day moving average of $58.39. The firm has a market capitalization of $13.79 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.65%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. National Pension Service bought a new position in shares of W. P. Carey in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey in the 4th quarter valued at about $37,000. Millstone Evans Group LLC acquired a new position in shares of W. P. Carey in the 4th quarter valued at approximately $37,000. Bessemer Group Inc. lifted its holdings in shares of W. P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 402 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in W. P. Carey in the fourth quarter valued at approximately $44,000. 73.73% of the stock is owned by institutional investors.

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.