W. P. Carey Inc. (WPC) to Issue Quarterly Dividend of $0.89 on April 15th

W. P. Carey Inc. (NYSE:WPC) announced a quarterly dividend on Thursday, March 13th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.89 per share by the real estate investment trust on Tuesday, April 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, March 31st. This is a 1.1% increase from W. P. Carey’s previous quarterly dividend of $0.88.

W. P. Carey has decreased its dividend by an average of 6.0% annually over the last three years. W. P. Carey has a dividend payout ratio of 128.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect W. P. Carey to earn $4.72 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 74.6%.

W. P. Carey Price Performance

WPC stock opened at $62.64 on Friday. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey has a 52-week low of $52.91 and a 52-week high of $66.10. The business has a fifty day moving average of $58.41 and a two-hundred day moving average of $58.30.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Scotiabank boosted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Barclays raised their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Company Profile

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.