W.P. Carey (NYSE:WPC) Given New $72.00 Price Target at Scotiabank

W.P. Carey (NYSE:WPC) had its target price hoisted by Scotiabank from $67.00 to $72.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the stock. Barclays set a $65.00 target price on shares of W.P. Carey in a research report on Tuesday, January 13th. Citigroup raised their price objective on W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. cut their target price on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 9th. Evercore ISI decreased their target price on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Finally, Royal Bank Of Canada raised their price target on W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.20.

W.P. Carey Trading Down 2.0%

NYSE:WPC opened at $68.35 on Monday. W.P. Carey has a 1 year low of $54.24 and a 1 year high of $70.28. The stock has a market cap of $14.98 billion, a P/E ratio of 41.42, a P/E/G ratio of 5.95 and a beta of 0.78. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a 50-day simple moving average of $66.62 and a 200-day simple moving average of $66.62.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. W.P. Carey’s payout ratio is 223.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WPC. Laurel Wealth Advisors LLC purchased a new position in shares of W.P. Carey in the 4th quarter valued at about $25,000. Olistico Wealth LLC acquired a new position in W.P. Carey during the fourth quarter worth about $28,000. MTM Investment Management LLC purchased a new position in W.P. Carey in the second quarter valued at about $28,000. Headlands Technologies LLC acquired a new stake in shares of W.P. Carey during the 2nd quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of W.P. Carey during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.