W.P. Carey Inc. (NYSE:WPC) Given Consensus Rating of "Hold" by Brokerages

Key Points

• W.P. Carey has a consensus “Hold” rating from 14 analysts: seven rate it a buy, six a hold, and one a sell. The average 12-month price target is $79.38, versus a recent price of $70.30.
• The company increased its quarterly dividend to $0.94 per share, equivalent to an annualized $3.76 dividend and a 5.3% yield. However, its payout ratio is elevated at 128.33%.
• Institutional investors own 73.73% of W.P. Carey, with major firms including BlackRock, California State Teachers Retirement System, and State Street among the company’s largest holders.

Shares of W.P. Carey Inc. (NYSE:WPC - Get Free Report) have earned a consensus rating of "Hold" from the fourteen analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $79.3846.

Several analysts have weighed in on WPC shares. Bank of America raised W.P. Carey from an "underperform" rating to a "neutral" rating and upped their target price for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. BMO Capital Markets cut their price target on W.P. Carey from $86.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, June 18th. BNP Paribas Exane upgraded shares of W.P. Carey from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $73.00 to $88.00 in a research report on Wednesday, July 29th. Evercore set a $77.00 price objective on shares of W.P. Carey in a research note on Thursday, July 30th. Finally, Barclays upped their price target on shares of W.P. Carey from $78.00 to $80.00 and gave the company an "underweight" rating in a report on Wednesday, July 22nd.

W.P. Carey Stock Performance

WPC opened at $70.30 on Friday. The stock has a market cap of $16.02 billion, a P/E ratio of 23.99, a P/E/G ratio of 3.52 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The stock's 50 day simple moving average is $72.31 and its 200 day simple moving average is $72.49. W.P. Carey has a 1-year low of $63.08 and a 1-year high of $77.22.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. This is an increase from W.P. Carey's previous quarterly dividend of $0.93. W.P. Carey's payout ratio is presently 128.33%.

Institutional Investors Weigh In On W.P. Carey

A number of large investors have recently bought and sold shares of WPC. BlackRock Inc. purchased a new stake in W.P. Carey during the 2nd quarter worth about $2,371,801,000. California State Teachers Retirement System lifted its holdings in W.P. Carey by 6,982.6% in the 2nd quarter. California State Teachers Retirement System now owns 27,759,661 shares of the real estate investment trust's stock valued at $1,984,816,000 after purchasing an additional 27,367,721 shares in the last quarter. State Street Corp lifted its holdings in W.P. Carey by 1.0% in the 3rd quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust's stock valued at $844,065,000 after purchasing an additional 119,817 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of W.P. Carey by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust's stock worth $307,913,000 after purchasing an additional 110,306 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of W.P. Carey by 0.3% during the 4th quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust's stock worth $251,311,000 after purchasing an additional 12,305 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source