W. P. Carey (NYSE:WPC) Price Target Raised to $60.00

W. P. Carey (NYSE:WPC) had its price target upped by Scotiabank from $55.00 to $60.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the stock. Raymond James cut W. P. Carey from an outperform rating to a market perform rating in a report on Monday, February 12th. Royal Bank of Canada dropped their price objective on W. P. Carey from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. Barclays started coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an equal weight rating and a $40.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of W. P. Carey from $66.00 to $61.00 and set an equal weight rating for the company in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $63.18.

W. P. Carey Stock Performance

WPC stock opened at $60.11 on Thursday. The company has a market capitalization of $13.15 billion, a P/E ratio of 22.86, a PEG ratio of 0.48 and a beta of 0.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The company has a 50-day simple moving average of $56.30 and a 200 day simple moving average of $59.24. W. P. Carey has a fifty-two week low of $51.36 and a fifty-two week high of $73.38.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.865 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 5.76%. W. P. Carey’s payout ratio is presently 131.56%.

Institutional Trading of W. P. Carey

Institutional investors have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. bought a new stake in W. P. Carey in the first quarter worth $26,000. First United Bank & Trust bought a new stake in shares of W. P. Carey during the 4th quarter worth about $27,000. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey during the 4th quarter valued at about $28,000. Riverview Trust Co acquired a new stake in W. P. Carey in the 1st quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. acquired a new stake in W. P. Carey in the 1st quarter worth approximately $30,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

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.