W. P. Carey Inc. (NYSE:WPC) Receives $66.60 Average Price Target from Analysts

W. P. Carey Inc. (NYSE:WPC) has received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $66.60.

A number of equities analysts have commented on the company. Bank of America reduced their price objective on W. P. Carey from $67.00 to $54.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 26th. StockNews.com began coverage on shares of W. P. Carey in a research report on Friday, November 3rd. They set a “hold” rating on the stock. JMP Securities lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, November 13th. Wells Fargo & Company assumed coverage on shares of W. P. Carey in a research report on Wednesday, September 20th. They set an “equal weight” rating and a $66.00 target price on the stock. Finally, BMO Capital Markets downgraded W. P. Carey from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $75.00 to $60.00 in a report on Tuesday, September 26th.

W. P. Carey Stock Up 0.9 %

Shares of WPC opened at $57.07 on Tuesday. The company has a market capitalization of $12.48 billion, a P/E ratio of 15.68, a PEG ratio of 6.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.12 and a quick ratio of 0.12. W. P. Carey has a one year low of $51.36 and a one year high of $85.94. The business’s 50 day simple moving average is $55.64 and its 200-day simple moving average is $63.78.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a $1.071 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 7.51%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Thursday, September 28th. W. P. Carey’s dividend payout ratio (DPR) is currently 117.58%.

Institutional Investors Weigh In On W. P. Carey

Several hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in W. P. Carey during the first quarter worth about $26,000. Acadian Asset Management LLC acquired a new position in shares of W. P. Carey in the 1st quarter valued at approximately $26,000. Robbins Farley bought a new stake in W. P. Carey during the 1st quarter worth approximately $27,000. ICA Group Wealth Management LLC acquired a new stake in W. P. Carey during the 4th quarter worth approximately $32,000. Finally, Quarry LP raised its holdings in W. P. Carey by 438.5% during the 2nd quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 342 shares during the period. 62.62% of the stock is currently owned by institutional investors and hedge funds.

About W. P. Carey

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,475 net lease properties covering approximately 180 million square feet and a portfolio of 85 self-storage operating properties, as of June 30, 2023.