W. P. Carey (NYSE:WPC) Price Target Raised to $63.00

W. P. Carey (NYSE:WPC) had its price objective boosted by UBS Group from $57.00 to $63.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other analysts have also commented on WPC. JMP Securities reaffirmed a market perform rating on shares of W. P. Carey in a research note on Friday, June 21st. Scotiabank boosted their price target on W. P. Carey from $55.00 to $60.00 and gave the company a sector perform rating in a research note on Thursday, May 16th. Wells Fargo & Company decreased their price target on W. P. Carey from $61.00 to $60.00 and set an equal weight rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada decreased their price target on W. P. Carey from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. Finally, Barclays assumed coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an equal weight rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $61.00.

W. P. Carey Stock Performance

WPC opened at $59.08 on Thursday. The stock has a market cap of $12.93 billion, a PE ratio of 22.46, a P/E/G ratio of 1.11 and a beta of 0.93. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey has a 1 year low of $51.36 and a 1 year high of $73.38. The stock’s 50 day simple moving average is $56.78 and its 200-day simple moving average is $57.90.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.87 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 5.89%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 132.32%.

Hedge Funds Weigh In On W. P. Carey

Several large investors have recently made changes to their positions in WPC. Richardson Financial Services Inc. acquired a new position in shares of W. P. Carey during the first quarter valued at $26,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares during the period. First United Bank & Trust acquired a new position in shares of W. P. Carey during the fourth quarter valued at $27,000. Riverview Trust Co acquired a new position in shares of W. P. Carey during the first quarter valued at $28,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of W. P. Carey during the first quarter valued at $30,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.