Analysts Set W. P. Carey Inc. (NYSE:WPC) PT at $62.38

Shares of W. P. Carey Inc. (NYSE:WPC) have earned an average rating of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $62.88.

A number of brokerages have recently weighed in on WPC. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Evercore ISI upped their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Barclays upped their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Scotiabank lowered their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. DF Dent & Co. Inc. raised its position in shares of W. P. Carey by 3.5% during the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 183 shares during the last quarter. HighTower Advisors LLC raised its position in shares of W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after purchasing an additional 193 shares during the last quarter. Harbour Investments Inc. raised its position in shares of W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 203 shares during the last quarter. Demars Financial Group LLC raised its position in shares of W. P. Carey by 2.2% during the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock worth $616,000 after purchasing an additional 216 shares during the last quarter. Finally, Capital Investment Advisory Services LLC raised its position in shares of W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of WPC opened at $64.74 on Monday. The firm has a market capitalization of $14.17 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $65.45. The company’s fifty day moving average price is $57.75 and its 200-day moving average price is $58.19.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 168.42%.

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.