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

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

Several equities research analysts recently weighed in on WPC shares. Evercore ISI lifted their price objective on 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 lifted 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 note on Wednesday, March 12th. Barclays upped their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in W. P. Carey by 12.6% during the third quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock valued at $12,016,000 after buying an additional 21,563 shares during the period. FMR LLC boosted its position in shares of W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after acquiring an additional 409,593 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of W. P. Carey by 138.0% during the third quarter. BNP Paribas Financial Markets now owns 306,304 shares of the real estate investment trust’s stock worth $19,083,000 after purchasing an additional 177,617 shares in the last quarter. Townsquare Capital LLC increased its position in shares of W. P. Carey by 5.2% in the third quarter. Townsquare Capital LLC now owns 11,099 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 550 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its stake in W. P. Carey by 14.1% in the third quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 523 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

NYSE:WPC opened at $62.44 on Friday. The company has a market capitalization of $13.66 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.06 and a beta of 0.95. The business has a fifty day simple moving average of $59.90 and a two-hundred day simple moving average of $58.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $66.10.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.70%. W. P. Carey’s dividend payout ratio is currently 170.33%.

W. P. Carey Company Profile

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.