W. P. Carey Receives Hold Rating from StockNews.com Analysts

The real estate investment trust W. P. Carey (NYSE:WPC) has commenced coverage under StockNews.com analysts, who have delivered a hold rating to the trust's stock in their latest report. This announcement generated a spotlight on Tuesday as investors weighed in on the prospects of the company moving forward.

Brokerage Consensus on W. P. Carey

Aside from StockNews.com, several other brokerages have also issued reports on WPC. Notably, BMO Capital Markets downgraded W. P. Carey from an 'outperform' to a 'market perform' status, whilst adjusting the stock's price target from $75.00 to $60.00. Similarly, other institutions like Scotiabank and Evercore ISI revised their price targets and ratings, reflecting a cautious stance on the stock. A total of eleven analysts have offered their ratings, with two suggesting a sell, seven recommending a hold, and two advocating a buy. Currently, the average rating stands at Hold with the consensus price target settling at around $66.60.

Financial Overview of W. P. Carey

Trading figures on Tuesday showed WPC stock opening at $64.54. The company's financial strength is displayed with a debt-to-equity ratio at 0.85. For liquidity, current and quick ratios both stand at 0.12. W. P. Carey's market capitalization reached $14.11 billion, with a price-to-earnings ratio of 17.73. Additionally, the company's one-year low and high were $51.36 and $85.94, respectively. The average prices over 50 and 200 days were $57.74 and $62.65.

Recent Dividend Announcement

Investors should note the recent decision by W. P. Carey to announce a quarterly dividend due for payment on January 16th with shareholders on record as of December 29th standing to receive a $0.86 dividend. This equates to an annualized $3.44 and a yield of 5.33%. The ex-dividend date has been declared as December 28th, with the current dividend payout ratio stated as 117.58%.

Institutional Interest in W. P. Carey

W. P. Carey has witnessed alterations in stock positions by large investors. Notable changes include the Public Employees Retirement System of Ohio's increase by 3.5% in shares during the third quarter, and American Century Companies Inc.'s 7.3% rise in stock ownership in the same period. These shifts indicate a sustained interest by institutional investors who collectively own 62.62% of W. P. Carey's stock.

A Glimpse into W. P. Carey's Operations

W. P. Carey stands out as one of the largest net lease REITs, boasting a portfolio that spans across approximately 171 million square feet of commercial real estate and includes 86 self-storage operating properties.

REIT, Coverage, Rating