W. P. Carey (NYSE:WPC) Given Market Perform Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of W. P. Carey (NYSE:WPC) in a research note published on Thursday,Benzinga reports.

A number of other brokerages also recently issued reports on WPC. Scotiabank cut their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Barclays reduced their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.00.

W. P. Carey Trading Up 2.1 %

Shares of W. P. Carey stock opened at $58.89 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average price is $55.39 and its 200 day moving average price is $57.61. The firm has a market capitalization of $12.89 billion, a PE ratio of 23.19, a P/E/G ratio of 1.02 and a beta of 0.97. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $64.26.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is an increase 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 5.98%. W. P. Carey’s payout ratio is 168.42%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Adams Wealth Management lifted its position in W. P. Carey by 33.5% during the fourth quarter. Adams Wealth Management now owns 11,675 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 2,930 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of W. P. Carey by 3.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 454,720 shares of the real estate investment trust’s stock valued at $24,766,000 after acquiring an additional 14,505 shares in the last quarter. Demars Financial Group LLC lifted its position in shares of W. P. Carey by 10,001.1% in the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after buying an additional 988,409 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of W. P. Carey by 6.3% during the fourth quarter. NewEdge Advisors LLC now owns 8,196 shares of the real estate investment trust’s stock valued at $447,000 after purchasing an additional 485 shares during the last quarter. Finally, CacheTech Inc. grew its stake in W. P. Carey by 33.5% during the 4th quarter. CacheTech Inc. now owns 11,675 shares of the real estate investment trust’s stock worth $635,000 after buying an additional 2,930 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other 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.