Brokerages Set W. P. Carey Inc. (NYSE:WPC) Price Target at $63.75

W. P. Carey Inc. (NYSE:WPC) has earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.75.

WPC has been the subject of a number of analyst reports. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank upped their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Wells Fargo & Company lifted their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Barclays upped their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada lifted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $63.01 on Friday. The stock has a market capitalization of $13.79 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.06 and a beta of 0.95. The firm’s 50-day moving average price is $60.31 and its two-hundred day moving average price is $58.39. W. P. Carey has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

Institutional Trading of W. P. Carey

Several institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in W. P. Carey by 12.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock valued at $12,016,000 after acquiring an additional 21,563 shares during the last quarter. FMR LLC raised its holdings in shares of W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after purchasing an additional 409,593 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in W. P. Carey by 138.0% during the third quarter. BNP Paribas Financial Markets now owns 306,304 shares of the real estate investment trust’s stock valued at $19,083,000 after purchasing an additional 177,617 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of W. P. Carey by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 11,099 shares of the real estate investment trust’s stock valued at $691,000 after acquiring an additional 550 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in shares of W. P. Carey by 14.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 523 shares in the last quarter. 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.