W. P. Carey (NYSE:WPC) Trading Up 3.3% – Should You Buy?

W. P. Carey Inc. (NYSE:WPC)’s share price shot up 3.3% during trading on Monday . The company traded as high as $63.37 and last traded at $63.85. 174,941 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,160,259 shares. The stock had previously closed at $61.81.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WPC. Scotiabank increased their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Evercore ISI raised their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Trading Up 1.4 %

The business’s 50-day moving average price is $60.04 and its 200 day moving average price is $58.38. The company has a market cap of $13.72 billion, a P/E ratio of 30.01, a P/E/G ratio of 1.06 and a beta of 0.95. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.89 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.68%. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

Institutional Trading of W. P. Carey

Several institutional investors and hedge funds have recently bought and sold shares of the business. National Pension Service acquired a new position in shares of W. P. Carey during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new position in W. P. Carey during the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey in the fourth quarter valued at about $37,000. Bessemer Group Inc. raised its position in shares of W. P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 402 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of W. P. Carey during the 4th quarter worth about $44,000. Institutional investors 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.