W.P. Carey (NYSE:WPC) Sets New 12-Month High – Here’s Why

W.P. Carey Inc. (NYSE:WPC) shares reached a new 52-week high on Tuesday . The company traded as high as $72.67 and last traded at $72.6350, with a volume of 643785 shares changing hands. The stock had previously closed at $71.52.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 7th. Barclays set a $65.00 price target on W.P. Carey in a report on Tuesday, January 13th. Citigroup raised their price objective on W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. cut their price objective on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, W.P. Carey has an average rating of “Hold” and an average price target of $69.20.

W.P. Carey Stock Performance

The company has a market cap of $15.92 billion, a PE ratio of 44.03, a PEG ratio of 6.08 and a beta of 0.78. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.25. The firm’s 50 day moving average is $66.95 and its 200-day moving average is $66.89.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.58). The company had revenue of $444.55 million for the quarter, compared to analyst estimates of $433.28 million. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%. On average, research analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.1%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, December 31st. W.P. Carey’s dividend payout ratio is presently 223.03%.

Institutional Trading of W.P. Carey

Hedge funds and other institutional investors have recently modified their holdings of the stock. Turning Point Benefit Group Inc. grew its holdings in shares of W.P. Carey by 6.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 148 shares during the period. Brookwood Investment Group LLC boosted its holdings in W.P. Carey by 1.7% in the 4th quarter. Brookwood Investment Group LLC now owns 8,936 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 149 shares during the last quarter. Austin Private Wealth LLC grew its stake in shares of W.P. Carey by 2.1% in the 3rd quarter. Austin Private Wealth LLC now owns 7,654 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 161 shares during the period. D.A. Davidson & CO. increased its holdings in shares of W.P. Carey by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 6,691 shares of the real estate investment trust’s stock worth $452,000 after buying an additional 169 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its position in shares of W.P. Carey by 0.6% during the 2nd quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock valued at $2,011,000 after buying an additional 178 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

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.