W. P. Carey Inc. (NYSE:WPC) Receives $59.70 Average Price Target from Analysts

W. P. Carey Inc. (NYSE:WPC) has been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $59.70.

WPC has been the topic of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Scotiabank upped their price objective on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Royal Bank of Canada dropped their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Wells Fargo & Company decreased their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, UBS Group began coverage on shares of W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 price objective for the company.

W. P. Carey Price Performance

NYSE:WPC opened at $55.05 on Wednesday. The company has a market cap of $12.05 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. W. P. Carey has a one year low of $51.36 and a one year high of $73.38. The firm’s fifty day moving average price is $56.69 and its two-hundred day moving average price is $58.72.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.87 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend is Friday, June 28th. W. P. Carey’s payout ratio is currently 131.56%.

Institutional Investors Weigh In On W. P. Carey

A number of large investors have recently modified their holdings of the business. Richardson Financial Services Inc. acquired a new stake in W. P. Carey in the first quarter valued at about $26,000. First United Bank & Trust bought a new stake in shares of W. P. Carey during the 4th quarter valued at approximately $27,000. Central Bank & Trust Co. acquired a new position in W. P. Carey during the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in W. P. Carey in the first quarter valued at approximately $28,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of W. P. Carey during the first quarter worth $30,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.