W.P. Carey (NYSE:WPC) Price Target Raised to $72.00

W.P. Carey (NYSE:WPC) had its price objective hoisted by Scotiabank from $67.00 to $72.00 in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the company. Citigroup lifted their price target on W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Evercore ISI cut their target price on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a report on Monday, December 15th. JPMorgan Chase & Co. decreased their target price on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, January 21st. Finally, Barclays set a $65.00 price objective on shares of W.P. Carey in a report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, W.P. Carey has a consensus rating of “Hold” and a consensus price target of $69.20.

W.P. Carey Trading Up 1.2%

Shares of W.P. Carey stock opened at $70.06 on Monday. The stock has a market cap of $15.35 billion, a PE ratio of 42.46, a price-to-earnings-growth ratio of 5.91 and a beta of 0.78. The firm has a fifty day moving average price of $66.71 and a 200 day moving average price of $66.69. W.P. Carey has a 1 year low of $54.24 and a 1 year high of $70.69. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.25.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.92 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, December 31st. This represents a $3.68 annualized dividend and a dividend yield of 5.3%. W.P. Carey’s payout ratio is currently 223.03%.

Institutional Investors Weigh In On W.P. Carey

Several large investors have recently bought and sold shares of WPC. Andra AP fonden lifted its stake in W.P. Carey by 27.9% during the 2nd quarter. Andra AP fonden now owns 160,700 shares of the real estate investment trust’s stock worth $10,024,000 after acquiring an additional 35,100 shares in the last quarter. Advisors Capital Management LLC grew its position in W.P. Carey by 6.4% in the 2nd quarter. Advisors Capital Management LLC now owns 875,988 shares of the real estate investment trust’s stock valued at $54,644,000 after acquiring an additional 52,660 shares in the last quarter. Carnegie Investment Counsel increased its stake in W.P. Carey by 9.4% during the third quarter. Carnegie Investment Counsel now owns 208,638 shares of the real estate investment trust’s stock worth $14,098,000 after purchasing an additional 17,843 shares during the period. HB Wealth Management LLC lifted its position in shares of W.P. Carey by 89.9% during the third quarter. HB Wealth Management LLC now owns 20,946 shares of the real estate investment trust’s stock worth $1,415,000 after purchasing an additional 9,918 shares in the last quarter. Finally, TruWealth Advisors LLC boosted its stake in shares of W.P. Carey by 15.5% in the third quarter. TruWealth Advisors LLC now owns 293,304 shares of the real estate investment trust’s stock valued at $19,819,000 after purchasing an additional 39,347 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.