W. P. Carey Inc. (NYSE:WPC) Receives Consensus Rating of “Hold” from Brokerages

W. P. Carey Inc. (NYSE:WPC) has been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $66.60.

Several equities analysts have recently commented on WPC shares. TheStreet downgraded W. P. Carey from a “b-” rating to a “c+” rating in a research report on Wednesday, October 4th. Citigroup decreased their price target on shares of W. P. Carey from $75.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 30th. JMP Securities downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, November 13th. Evercore ISI decreased their target price on shares of W. P. Carey from $76.00 to $66.00 and set an “in-line” rating on the stock in a research report on Friday, September 22nd. Finally, Raymond James decreased their target price on shares of W. P. Carey from $78.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, October 2nd.

W. P. Carey Stock Up 0.9 %

Shares of WPC opened at $57.07 on Tuesday. W. P. Carey has a 52 week low of $51.36 and a 52 week high of $85.94. The firm’s 50-day simple moving average is $55.64 and its 200 day simple moving average is $63.78. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $12.48 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 6.46 and a beta of 0.84.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $1.071 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 7.51%. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. W. P. Carey’s payout ratio is 117.58%.

Institutional Trading of W. P. Carey

Several large investors have recently bought and sold shares of WPC. Fairfield Bush & CO. bought a new stake in shares of W. P. Carey during the 1st quarter valued at approximately $26,000. American Century Companies Inc. acquired a new stake in W. P. Carey in the first quarter valued at approximately $488,000. Natixis Advisors L.P. acquired a new stake in W. P. Carey in the first quarter valued at approximately $1,016,000. Acadian Asset Management LLC acquired a new stake in W. P. Carey in the first quarter valued at approximately $26,000. Finally, MetLife Investment Management LLC acquired a new stake in W. P. Carey in the first quarter valued at approximately $305,000. 62.62% of the stock is owned by institutional investors and hedge funds.

About W. P. Carey

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,475 net lease properties covering approximately 180 million square feet and a portfolio of 85 self-storage operating properties, as of June 30, 2023.