W. P. Carey (NYSE:WPC) Reaches New 12-Month High – Here’s What Happened

Shares of W. P. Carey Inc. (NYSE:WPC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $64.71 and last traded at $64.75, with a volume of 119685 shares. The stock had previously closed at $64.21.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WPC. Evercore ISI raised their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. UBS Group reduced 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 report on Thursday, November 14th. Finally, Scotiabank lowered their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average target price of $62.88.

W. P. Carey Trading Up 0.9 %

The firm has a market cap of $14.23 billion, a PE ratio of 31.11, a P/E/G ratio of 1.06 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average price is $57.16 and its two-hundred day moving average price is $58.06.

W. P. Carey Increases Dividend

The company also recently disclosed 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 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 yield of 5.41%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is 168.42%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. National Pension Service purchased a new stake in shares of W. P. Carey in the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey during the fourth quarter worth $37,000. Millstone Evans Group LLC purchased a new stake in shares of W. P. Carey during the fourth quarter valued at $37,000. Maia Wealth LLC purchased a new stake in shares of W. P. Carey during the third quarter valued at $40,000. Finally, Bessemer Group Inc. grew its holdings in shares of W. P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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.