W. P. Carey (NYSE:WPC - Free Report) had its price target upped by Scotiabank from $59.00 to $63.00 in a research note released on Wednesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust's stock.
Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Finally, Barclays increased their price target on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.75.
Check Out Our Latest Analysis on W. P. Carey
W. P. Carey Stock Down 0.5 %
WPC traded down $0.33 during midday trading on Wednesday, hitting $61.60. 1,565,963 shares of the company's stock traded hands, compared to its average volume of 1,113,736. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $13.48 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The stock's fifty day simple moving average is $58.27 and its 200-day simple moving average is $58.28. W. P. Carey has a one year low of $52.91 and a one year high of $66.10.
W. P. Carey Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.89 dividend. This is an increase 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 5.78%. W. P. Carey's dividend payout ratio is 168.42%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in WPC. Assetmark Inc. raised its stake in shares of W. P. Carey by 3.1% in the third quarter. Assetmark Inc. now owns 10,013 shares of the real estate investment trust's stock valued at $624,000 after purchasing an additional 304 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of W. P. Carey by 6.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,081 shares of the real estate investment trust's stock valued at $940,000 after acquiring an additional 928 shares in the last quarter. Harbour Investments Inc. increased its stake in W. P. Carey by 5.9% in the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock valued at $226,000 after acquiring an additional 203 shares during the period. GSA Capital Partners LLP acquired a new position in W. P. Carey in the third quarter worth about $520,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in W. P. Carey by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 650,609 shares of the real estate investment trust's stock worth $40,533,000 after purchasing an additional 8,049 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.
W. P. Carey Company Profile
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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.
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