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

W. P. Carey (NYSE:WPC) had its target price hoisted by Barclays from $56.00 to $60.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on WPC. Scotiabank reduced their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets raised 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, February 18th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, UBS Group cut their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Down 0.1 %

Shares of WPC stock opened at $64.64 on Tuesday. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $65.45. 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 has a 50-day moving average of $56.97 and a 200 day moving average of $58.01. The stock has a market capitalization of $14.15 billion, a PE ratio of 30.93, a P/E/G ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is currently 168.42%.

Institutional Investors Weigh In On W. P. Carey

A number of hedge funds have recently made changes to their positions in WPC. BridgePort Financial Solutions LLC purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $1,499,000. B. Riley Wealth Advisors Inc. raised its position in 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 valued at $341,000 after purchasing an additional 315 shares during the period. Liberty Square Wealth Partners LLC purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $651,000. Ameriflex Group Inc. purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $105,000. Finally, Mackenzie Financial Corp raised its position in W. P. Carey by 63.0% during the fourth quarter. Mackenzie Financial Corp now owns 19,024 shares of the real estate investment trust’s stock valued at $1,036,000 after purchasing an additional 7,352 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.