W. P. Carey Inc. (NYSE:WPC – Get Free Report) has received an average rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $60.91.
Several analysts have recently issued reports on WPC shares. Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Royal Bank of Canada decreased their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company cut their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th.
Check Out Our Latest Analysis on W. P. Carey
Insider Buying and Selling at W. P. Carey
Hedge Funds Weigh In On W. P. Carey
Large investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in W. P. Carey in the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. First United Bank & Trust acquired a new position in W. P. Carey in the 4th quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of W. P. Carey in the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 73.73% of the company’s stock.
W. P. Carey Stock Performance
Shares of NYSE WPC opened at $58.48 on Thursday. The business’s 50-day moving average price is $56.80 and its two-hundred day moving average price is $56.83. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90. W. P. Carey has a one year low of $51.36 and a one year high of $67.40. The company has a market capitalization of $12.80 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.
W. P. Carey (NYSE:WPC – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). The company had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. Analysts anticipate that W. P. Carey will post 4.53 earnings per share for the current fiscal year.
W. P. Carey Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.87 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, June 28th. This represents a $3.48 annualized dividend and a yield of 5.95%. W. P. Carey’s dividend payout ratio is 132.32%.
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.
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