W. P. Carey Inc. (NYSE:WPC) Receives Consensus Rating of “Hold” from Analysts

W. P. Carey Inc. (NYSE:WPC) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $63.75.

Several research firms have weighed in on WPC. Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Scotiabank boosted their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. National Pension Service bought a new stake in W. P. Carey during the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the 4th quarter worth about $37,000. Millstone Evans Group LLC bought a new stake in W. P. Carey during the 4th quarter valued at approximately $37,000. Bessemer Group Inc. grew its holdings in W. P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 402 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in W. P. Carey in the 4th quarter worth approximately $44,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $61.37 on Tuesday. The company’s fifty day moving average is $61.48 and its two-hundred day moving average is $58.08. The company has a market cap of $13.44 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. W. P. Carey has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.89 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.80%. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

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.