W. P. Carey’s (WPC) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of W. P. Carey (NYSE:WPC) in a report issued on Thursday,Benzinga reports.

Other research analysts have also issued reports about the stock. Barclays decreased their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. UBS Group reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Scotiabank reduced their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.00.

W. P. Carey Stock Down 0.3 %

Shares of W. P. Carey stock opened at $58.72 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $55.44 and a 200 day moving average of $57.57. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.02 and a beta of 0.97. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $64.26.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change 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 5.99%. W. P. Carey’s payout ratio is currently 138.58%.

Institutional Trading of W. P. Carey

A number of large investors have recently made changes to their positions in WPC. Norges Bank bought a new stake in shares of W. P. Carey in the fourth quarter worth approximately $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after acquiring an additional 1,784,131 shares during the period. Demars Financial Group LLC grew its stake in shares of W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after acquiring an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA grew 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 worth $219,170,000 after acquiring an additional 906,622 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of W. P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after buying an additional 758,627 shares during the last quarter. 73.73% of the stock is currently owned by 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.