Evercore ISI Issues Positive Forecast for W. P. Carey (NYSE:WPC) Stock Price

W. P. Carey (NYSE:WPC) had its price target boosted by Evercore ISI from $60.00 to $64.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on WPC. Barclays cut their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada boosted their target price 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. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a report on Tuesday. Finally, Scotiabank dropped their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average price target of $62.38.

W. P. Carey Stock Up 0.0 %

WPC stock opened at $60.42 on Wednesday. The stock’s 50 day simple moving average is $55.67 and its 200 day simple moving average is $57.62. The company has a market cap of $13.22 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $64.26.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.83%. W. P. Carey’s payout ratio is currently 168.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in W. P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock valued at $1,679,110,000 after purchasing an additional 242,576 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of W. P. Carey by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock valued at $256,201,000 after buying an additional 135,090 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of W. P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after buying an additional 906,622 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of W. P. Carey by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock valued at $143,926,000 after buying an additional 43,197 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of W. P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after acquiring an additional 758,627 shares during the period. 73.73% of the stock is owned by institutional investors.

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.