W. P. Carey (NYSE:WPC) Price Target Raised to $60.00

W. P. Carey (NYSE:WPC) had its target price raised by Barclays from $56.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

WPC has been the topic of a number of other reports. Evercore ISI increased their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. 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. UBS Group lowered their price target 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. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $63.95 on Tuesday. The company’s fifty day moving average price is $57.36 and its 200 day moving average price is $58.11. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $65.45. The company has a market capitalization of $13.99 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is a boost 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 5.50%. W. P. Carey’s dividend payout ratio is currently 168.42%.

Institutional Investors Weigh In On W. P. Carey

Hedge funds have recently modified their holdings of the business. National Pension Service acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $25,000. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at about $40,000. Millstone Evans Group LLC acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at about $44,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

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.