W. P. Carey (NYSE:WPC) Downgraded by JMP Securities

JMP Securities downgraded shares of W. P. Carey (NYSE:WPC) from an outperform rating to a market perform rating in a research note issued to investors on Monday, Marketbeat.com reports.

Other analysts have also recently issued reports about the company. Wells Fargo & Company started coverage on W. P. Carey in a report on Wednesday, September 20th. They issued an equal weight rating and a $66.00 target price on the stock. TheStreet lowered W. P. Carey from a b- rating to a c+ rating in a research note on Wednesday, October 4th. Scotiabank dropped their price target on W. P. Carey from $71.00 to $61.00 and set a sector perform rating on the stock in a research note on Thursday, September 28th. BMO Capital Markets lowered W. P. Carey from an outperform rating to a market perform rating and dropped their price target for the company from $75.00 to $60.00 in a research note on Tuesday, September 26th. Finally, StockNews.com began coverage on W. P. Carey in a research note on Friday, November 3rd. They issued a hold rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $66.60.

W. P. Carey Stock Performance

Shares of WPC stock opened at $56.93 on Monday. The business’s 50 day simple moving average is $55.91 and its 200 day simple moving average is $64.12. W. P. Carey has a one year low of $51.36 and a one year high of $85.94. The stock has a market capitalization of $12.45 billion, a PE ratio of 15.64, a PEG ratio of 6.12 and a beta of 0.84. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.12 and a quick ratio of 0.12.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $1.071 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 7.53%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Thursday, September 28th. W. P. Carey’s dividend payout ratio is presently 117.58%.

Hedge Funds Weigh In On W. P. Carey

Institutional investors have recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in W. P. Carey during the first quarter worth $26,000. American Century Companies Inc. bought a new stake in W. P. Carey during the first quarter worth $488,000. Natixis Advisors L.P. bought a new stake in W. P. Carey during the first quarter worth $1,016,000. Acadian Asset Management LLC bought a new stake in W. P. Carey during the first quarter worth $26,000. Finally, MetLife Investment Management LLC bought a new stake in W. P. Carey during the first quarter worth $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.