W. P. Carey Inc. (NYSE:WPC) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of W. P. Carey Inc. (NYSE:WPC - Get Free Report) have been assigned an average recommendation of "Hold" from the nine research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $63.75.

WPC has been the topic of several research reports. Wells Fargo & Company raised their price objective on 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. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Royal Bank of Canada increased their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Barclays lifted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. Finally, Evercore ISI raised their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th.

Hedge Funds Weigh In On W. P. Carey

A number of hedge funds have recently added to or reduced their stakes in WPC. RFG Advisory LLC lifted its holdings in W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock worth $347,000 after acquiring an additional 3,049 shares during the last quarter. Sei Investments Co. grew its stake in W. P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock worth $3,056,000 after buying an additional 8,197 shares during the last quarter. Signet Financial Management LLC acquired a new stake in W. P. Carey in the fourth quarter worth $1,942,000. Diversified Trust Co bought a new stake in W. P. Carey in the fourth quarter valued at $534,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of W. P. Carey by 21.1% during the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock valued at $94,325,000 after acquiring an additional 264,230 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Trading Down 0.5 %

WPC traded down $0.32 on Tuesday, reaching $60.75. 694,983 shares of the company's stock were exchanged, compared to its average volume of 1,180,189. The company's 50 day moving average is $61.59 and its 200-day moving average is $58.12. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.86%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey's dividend payout ratio (DPR) is 170.33%.

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.