W.P. Carey Inc. (NYSE:WPC) Given Consensus Recommendation 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 approximately $79.31, compared with the stock’s recent price of $71.75.
• Recent analyst actions were generally positive, including upgrades from BNP Paribas Exane and Wolfe Research to “outperform,” while price targets from several firms range from $77 to $88.
• Institutional investors own 73.73% of W.P. Carey, with major additions from BlackRock, Invesco, Norges Bank, and UBS. The company also raised its quarterly dividend to $0.94, implying a 5.2% yield, though its payout ratio is high at 128.33%.

W.P. Carey Inc. (NYSE:WPC - Get Free Report) has received an average recommendation of "Hold" from the fourteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $79.3077.

A number of brokerages recently weighed in on WPC. Weiss Ratings reissued a "buy (b-)" rating on shares of W.P. Carey in a report on Friday, July 31st. BNP Paribas Exane raised W.P. Carey from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. BMO Capital Markets decreased their price objective on W.P. Carey from $86.00 to $84.00 and set an "outperform" rating on the stock in a research report on Thursday, June 18th. Wolfe Research raised W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 target price for the company in a research note on Monday, June 8th. Finally, Royal Bank Of Canada lifted their target price on W.P. Carey from $73.00 to $77.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th.

Institutional Trading of W.P. Carey

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPC. BlackRock Inc. acquired a new position in W.P. Carey during the 2nd quarter valued at about $2,371,801,000. Invesco Ltd. grew its position in shares of W.P. Carey by 416.8% during the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust's stock worth $263,014,000 after buying an additional 3,139,266 shares during the period. Norges Bank acquired a new stake in shares of W.P. Carey during the 4th quarter worth approximately $184,035,000. Bank of New York Mellon Corp bought a new stake in shares of W.P. Carey during the second quarter worth approximately $164,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of W.P. Carey by 31,629.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust's stock worth $139,229,000 after buying an additional 2,156,467 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W.P. Carey Trading Down 0.1%

Shares of NYSE WPC opened at $71.75 on Monday. W.P. Carey has a 1-year low of $63.08 and a 1-year high of $77.22. The company has a market cap of $16.35 billion, a PE ratio of 24.49, a P/E/G ratio of 3.58 and a beta of 0.75. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $73.38 and a two-hundred day moving average of $72.40.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.94 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 5.2%. The ex-dividend date was Tuesday, June 30th. W.P. Carey's dividend payout ratio (DPR) is 128.33%.

About W.P. Carey

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.

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