JMP Securities Reaffirms "Market Perform" Rating for W. P. Carey (NYSE:WPC)

JMP Securities reissued their market perform rating on shares of W. P. Carey (NYSE:WPC - Free Report) in a research report report published on Thursday morning,Benzinga reports.

A number of other equities analysts also recently commented on the company. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Scotiabank decreased their price target on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a research note on Thursday, January 16th. Finally, Barclays decreased their price target on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $62.00.

W. P. Carey Stock Down 0.3 %

NYSE:WPC traded down $0.15 during mid-day trading on Thursday, reaching $58.72. The stock had a trading volume of 1,337,284 shares, compared to its average volume of 849,474. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $64.26. The stock's 50 day simple moving average is $55.44 and its two-hundred day simple moving average is $57.57. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is 138.58%.

Institutional Investors Weigh In On W. P. Carey

A number of hedge funds have recently made changes to their positions in the business. DF Dent & Co. Inc. raised its holdings in shares of W. P. Carey by 3.5% during the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after buying an additional 183 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of W. P. Carey by 0.4% during the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after buying an additional 193 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of W. P. Carey by 5.9% during the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock valued at $226,000 after buying an additional 203 shares during the last quarter. Creative Planning raised its holdings in shares of W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock valued at $4,031,000 after buying an additional 207 shares during the last quarter. Finally, Demars Financial Group LLC raised its holdings in shares of W. P. Carey by 2.2% during the third quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust's stock valued at $616,000 after buying an additional 216 shares during the last quarter. 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.