W. P. Carey (NYSE:WPC) Price Target Raised to $63.00

W. P. Carey (NYSE:WPC) had its price target increased by UBS Group from $57.00 to $63.00 in a research report report published on Thursday, Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

WPC has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on W. P. Carey from $70.00 to $68.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company lowered their price objective on 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. Barclays started coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an equal weight rating and a $40.00 price objective on the stock. Royal Bank of Canada lowered their price objective on W. P. Carey from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. Finally, Scotiabank raised their price objective on W. P. Carey from $55.00 to $60.00 and gave the stock a sector perform rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $61.00.

W. P. Carey Price Performance

W. P. Carey stock opened at $59.08 on Thursday. The stock’s fifty day moving average price is $56.78 and its two-hundred day moving average price is $57.90. W. P. Carey has a one year low of $51.36 and a one year high of $73.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $12.93 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.87 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 annualized dividend and a dividend yield of 5.89%. W. P. Carey’s dividend payout ratio (DPR) is presently 132.32%.

Institutional Investors Weigh In On W. P. Carey

Several hedge funds have recently modified their holdings of WPC. Richardson Financial Services Inc. acquired a new stake in shares of W. P. Carey during the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. First United Bank & Trust acquired a new stake in shares of W. P. Carey during the 4th quarter valued at $27,000. Riverview Trust Co acquired a new stake in shares of W. P. Carey during the 1st quarter valued at $28,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of W. P. Carey during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

About W. P. Carey

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.