W. P. Carey (NYSE:WPC) Trading Up 3.3% – Here’s What Happened

Shares of W. P. Carey Inc. (NYSE:WPC) traded up 3.3% on Monday . The company traded as high as $63.37 and last traded at $63.85. 174,941 shares changed hands during trading, a decline of 85% from the average session volume of 1,160,259 shares. The stock had previously closed at $61.81.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of research reports. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Scotiabank upped their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada lifted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Trading Up 1.4 %

The company has a market capitalization of $13.72 billion, a P/E ratio of 30.01, a PEG ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day moving average price is $60.04 and its two-hundred day moving average price is $58.38.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. The ex-dividend date is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.68%. W. P. Carey’s payout ratio is currently 170.33%.

Institutional Investors Weigh In On W. P. Carey

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its position in shares of W. P. Carey by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 319,738 shares of the real estate investment trust’s stock valued at $17,419,000 after purchasing an additional 66,319 shares during the period. California State Teachers Retirement System boosted its holdings in shares of W. P. Carey by 3.1% in the fourth quarter. California State Teachers Retirement System now owns 313,452 shares of the real estate investment trust’s stock valued at $17,077,000 after buying an additional 9,391 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of W. P. Carey by 38.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 201,509 shares of the real estate investment trust’s stock worth $10,978,000 after acquiring an additional 56,121 shares in the last quarter. BridgePort Financial Solutions LLC bought a new stake in shares of W. P. Carey during the fourth quarter worth $1,499,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of W. P. Carey by 5.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 315 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.