W.P. Carey (NYSE:WPC) Hits New 12-Month Low – Time to Sell?

Shares of W.P. Carey Inc. (NYSE:WPC) reached a new 52-week low during trading on Wednesday. The company traded as low as $63.03 and last traded at $63.1150, with a volume of 428711 shares. The stock had previously closed at $64.01.

Analysts Set New Price Targets

A number of research firms recently weighed in on WPC. Barclays upgraded shares of W.P. Carey from an “underweight” rating to an “equal weight” rating and set a $80.00 target price on the stock in a research note on Friday, September 4th. Jefferies Financial Group began coverage on shares of W.P. Carey in a report on Tuesday, September 22nd. They set a “buy” rating and a $73.00 target price on the stock. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $73.00 to $88.00 in a research report on Wednesday, July 29th. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a research report on Friday, September 25th. Finally, UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.14.

W.P. Carey Stock Performance

The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 3.23 and a beta of 0.75. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $69.45 and its 200 day simple moving average is $71.57.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.95 per share. The ex-dividend date is Wednesday, September 30th. This is a boost from W.P. Carey’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 6.0%. W.P. Carey’s dividend payout ratio (DPR) is presently 129.69%.

Institutional Investors Weigh In On W.P. Carey

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of W.P. Carey in the second quarter worth approximately $2,371,801,000. Dimensional Fund Advisors LP grew its stake in W.P. Carey by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock worth $227,539,000 after purchasing an additional 155,857 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of W.P. Carey in the 2nd quarter valued at $189,315,000. Bank of New York Mellon Corp increased its position in W.P. Carey by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 2,353,944 shares of the real estate investment trust’s stock worth $159,974,000 after buying an additional 37,649 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of W.P. Carey by 3.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,270,499 shares of the real estate investment trust’s stock worth $162,341,000 after acquiring an additional 65,284 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 (NYSE: WPC) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties. The company primarily invests in single-tenant, operationally critical properties that are leased to companies under long-term, net lease agreements. These arrangements generally require tenants to pay property taxes, insurance and maintenance costs, subject to the terms of each lease.

Its portfolio has historically included industrial, warehouse, retail, office and self-storage properties, with a focus on assets leased to established businesses across a range of industries.