W. P. Carey (NYSE:WPC) Price Target Raised to $63.00

W. P. Carey (NYSE:WPC) had its price objective raised by Scotiabank from $59.00 to $63.00 in a research note published on Wednesday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on WPC. Barclays raised their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Wells Fargo & Company raised their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Royal Bank of Canada raised their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Evercore ISI raised their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One equities research 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. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Up 1.6 %

Shares of NYSE WPC opened at $62.64 on Wednesday. The company has a 50 day simple moving average of $58.41 and a 200 day simple moving average of $58.30. The firm has a market cap of $13.71 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.89 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. W. P. Carey’s dividend payout ratio (DPR) is 168.42%.

Institutional Trading of W. P. Carey

Several large investors have recently modified their holdings of the stock. National Pension Service acquired a new stake in W. P. Carey in the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the 4th quarter valued at $37,000. Millstone Evans Group LLC acquired a new stake in W. P. Carey in the 4th quarter valued at $37,000. Bessemer Group Inc. grew its position in W. P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 402 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at $44,000. Institutional investors and hedge funds 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.