W.P. Carey (NYSE:WPC) Upgraded at Barclays

Barclays upgraded shares of W.P. Carey (NYSE:WPC) from an underweight rating to an equal weight rating in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have $80.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the company. BMO Capital Markets reduced their target price on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, June 18th. Evercore set a $77.00 price target on W.P. Carey in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price target on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Monday, June 8th. Finally, Royal Bank Of Canada increased their price objective on W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.38.

W.P. Carey Stock Down 0.1%

WPC stock opened at $70.33 on Friday. The company’s 50 day simple moving average is $72.24 and its 200-day simple moving average is $72.46. The firm has a market capitalization of $16.02 billion, a PE ratio of 24.00, a P/E/G ratio of 3.51 and a beta of 0.75. W.P. Carey has a 12 month low of $63.08 and a 12 month 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s payout ratio is 128.33%.

Hedge Funds Weigh In On W.P. Carey

Large investors have recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC bought a new stake in W.P. Carey during the 4th quarter valued at $26,000. Osbon Capital Management LLC acquired a new position in shares of W.P. Carey during the fourth quarter valued at $29,000. Headlands Technologies LLC acquired a new position in shares of W.P. Carey during the second quarter valued at $30,000. Wealth Watch Advisors INC bought a new stake in shares of W.P. Carey during the third quarter valued at about $33,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of W.P. Carey during the third quarter valued at about $34,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

About W.P. Carey

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.