W.P. Carey (NYSE:WPC) Hits New 52-Week High – Still a Buy?

W.P. Carey Inc. (NYSE:WPC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $70.42 and last traded at $70.3640, with a volume of 359715 shares changing hands. The stock had previously closed at $69.25.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WPC shares. JPMorgan Chase & Co. decreased 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. Scotiabank lifted their price target on shares of W.P. Carey from $67.00 to $72.00 and gave the company a “sector perform” rating in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 7th. Evercore ISI cut their price objective on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Finally, Citigroup increased their target price on W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.20.

W.P. Carey Stock Up 1.2%

The firm’s 50 day simple moving average is $66.66 and its 200-day simple moving average is $66.67. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 5.83 and a beta of 0.78.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.3%. This is a boost 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 payout ratio is currently 223.03%.

Institutional Investors Weigh In On W.P. Carey

Several large investors have recently made changes to their positions in the stock. Laurel Wealth Advisors LLC bought a new stake in W.P. Carey during the fourth quarter worth $25,000. MTM Investment Management LLC acquired a new position in shares of W.P. Carey during the 2nd quarter worth about $28,000. Olistico Wealth LLC bought a new stake in shares of W.P. Carey in the 4th quarter valued at about $28,000. Headlands Technologies LLC acquired a new stake in W.P. Carey in the 2nd quarter valued at about $30,000. Finally, Wealth Watch Advisors INC bought a new position in W.P. Carey during the third quarter worth about $33,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.