Brokerages Set W.P. Carey Inc. (NYSE:WPC) PT at $79.31

Shares of W.P. Carey Inc. (NYSE:WPC) have earned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $79.3077.

A number of research analysts have recently weighed in on the stock. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Barclays upped their target price on W.P. Carey from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of W.P. Carey in a research report on Friday, July 31st. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Finally, UBS Group restated a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th.

W.P. Carey Stock Performance

Shares of WPC opened at $70.68 on Monday. W.P. Carey has a 12-month low of $63.08 and a 12-month high of $77.22. The stock has a market cap of $16.10 billion, a P/E ratio of 24.12, a PEG ratio of 3.49 and a beta of 0.75. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $73.21 and a two-hundred day moving average of $72.42.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 dividend on an annualized basis and a yield of 5.3%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio (DPR) is 128.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new stake in shares of W.P. Carey during the fourth quarter worth about $25,000. Commonwealth Retirement Investments LLC purchased a new position in shares of W.P. Carey during the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC acquired a new stake in W.P. Carey during the fourth quarter worth approximately $29,000. Headlands Technologies LLC acquired a new stake in W.P. Carey during the second quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in W.P. Carey in the 3rd quarter worth approximately $33,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Company Profile

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.