W.P. Carey Inc. (NYSE:WPC) Stock Has Consensus Target Price of $77.36 According to Brokerages

Shares of W.P. Carey Inc. (NYSE:WPC) have earned an average rating of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $77.36.

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Evercore set a $75.00 price target on W.P. Carey in a research note on Monday, September 21st. UBS Group reissued a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a report on Friday, September 25th. Finally, Weiss Ratings downgraded W.P. Carey from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st.

W.P. Carey Stock Up 0.7%

Shares of NYSE WPC opened at $64.38 on Friday. The stock has a market capitalization of $14.67 billion, a P/E ratio of 21.97, a P/E/G ratio of 3.23 and a beta of 0.75. The company has a 50-day moving average price of $67.17 and a 200-day moving average price of $70.87. W.P. Carey has a 1 year low of $62.24 and a 1 year high of $77.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.9%. W.P. Carey’s payout ratio is presently 129.69%.

Institutional Investors Weigh In On W.P. Carey

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in W.P. Carey during the 2nd quarter valued at $2,371,801,000. Dimensional Fund Advisors LP boosted its holdings in W.P. Carey by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock worth $227,539,000 after acquiring an additional 155,857 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of W.P. Carey in the 2nd quarter worth $189,315,000. Bank of New York Mellon Corp grew its stake in shares of W.P. Carey by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,353,944 shares of the real estate investment trust’s stock worth $159,974,000 after acquiring an additional 37,649 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W.P. Carey by 3.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,270,499 shares of the real estate investment trust’s stock worth $162,341,000 after acquiring an additional 65,284 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Company Profile

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.