W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry.
W. P. Carey Trading Up 1.5 %
WPC opened at $87.88 on Friday. The stock has a fifty day moving average price of $83.83 and a 200-day moving average price of $81.36. W. P. Carey has a 12 month low of $73.02 and a 12 month high of $89.63. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 7.64 and a beta of 0.67. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.83.
W. P. Carey Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $1.059 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $1.06. This represents a $4.24 annualized dividend and a yield of 4.82%. The ex-dividend date was Wednesday, June 29th. W. P. Carey's dividend payout ratio is currently 154.18%.
Analyst Upgrades and Downgrades
WPC has been the subject of several research reports. Royal Bank of Canada upped their target price on W. P. Carey from $87.00 to $94.00 and gave the stock an "outperform" rating in a report on Monday, August 1st. Raymond James upped their target price on W. P. Carey from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Friday, July 8th. Evercore ISI set a $89.00 target price on W. P. Carey in a report on Monday, June 20th. JMP Securities boosted their price target on W. P. Carey from $87.00 to $93.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 3rd. Finally, StockNews.com lowered W. P. Carey from a "buy" rating to a "hold" rating in a research report on Wednesday, June 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, W. P. Carey currently has an average rating of "Moderate Buy" and a consensus price target of $91.80.