W. P. Carey Inc. (NYSE:WPC) Receives Average Rating of "Hold" from Brokerages

Shares of W. P. Carey Inc. (NYSE:WPC - Get Free Report) have received an average recommendation of "Hold" from the nine brokerages that are presently covering the firm, MarketBeat reports. One 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 target price among brokers that have covered the stock in the last year is $63.75.

A number of analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Evercore ISI raised their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Barclays upped their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research report on Tuesday, March 4th. Scotiabank raised their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.09 during midday trading on Tuesday, reaching $60.62. 615,830 shares of the company's stock traded hands, compared to its average volume of 1,180,364. 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 has a one year low of $52.91 and a one year high of $66.10. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 1.06 and a beta of 0.81. The stock has a 50 day moving average of $61.63 and a 200 day moving average of $58.14.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.89 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.87%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is currently 170.33%.

Hedge Funds Weigh In On W. P. Carey

Several large investors have recently made changes to their positions in the business. Prairiewood Capital LLC lifted its holdings in W. P. Carey by 9.7% in the 1st quarter. Prairiewood Capital LLC now owns 77,457 shares of the real estate investment trust's stock worth $4,888,000 after purchasing an additional 6,845 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of W. P. Carey by 13.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock worth $758,000 after acquiring an additional 1,442 shares during the last quarter. Money Concepts Capital Corp bought a new stake in W. P. Carey in the 1st quarter valued at $203,000. Achmea Investment Management B.V. boosted its stake in W. P. Carey by 10.6% during the first quarter. Achmea Investment Management B.V. now owns 173,202 shares of the real estate investment trust's stock valued at $10,931,000 after buying an additional 16,540 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in W. P. Carey in the 1st quarter worth approximately $312,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.