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

W. P. Carey Inc. (NYSE:WPC) has been given an average rating of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $62.00.

A number of research firms recently issued reports on WPC. Scotiabank decreased their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Barclays cut their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group decreased their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th.

W. P. Carey Stock Down 0.5 %

WPC opened at $55.78 on Thursday. The company has a 50 day moving average of $55.28 and a 200 day moving average of $57.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey has a 12 month low of $52.91 and a 12 month high of $64.26. The company has a market cap of $12.21 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 138.58%.

Hedge Funds Weigh In On W. P. Carey

A number of institutional investors have recently made changes to their positions in WPC. Generali Asset Management SPA SGR bought a new stake in shares of W. P. Carey during the 4th quarter worth $2,868,000. Retirement Planning Co of New England Inc. lifted its stake in W. P. Carey by 34.0% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 6,105 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 1,549 shares during the last quarter. Mystic Asset Management Inc. purchased a new position in shares of W. P. Carey in the 4th quarter worth about $251,000. Horizon Kinetics Asset Management LLC increased its position in shares of W. P. Carey by 4.3% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 35,150 shares of the real estate investment trust’s stock valued at $1,915,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Cibc World Markets Corp raised its holdings in shares of W. P. Carey by 4.2% during the 4th quarter. Cibc World Markets Corp now owns 73,544 shares of the real estate investment trust’s stock valued at $4,007,000 after buying an additional 2,957 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

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.