W. P. Carey Inc. (NYSE:WPC) Plans Quarterly Dividend of $0.88

W. P. Carey Inc. (NYSE:WPC) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Investors of record on Monday, September 30th will be paid a dividend of 0.875 per share by the real estate investment trust on Tuesday, October 15th. This represents a $3.50 annualized dividend and a dividend yield of 5.56%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87.

W. P. Carey has decreased its dividend payment by an average of 0.9% annually over the last three years. W. P. Carey has a payout ratio of 156.1% indicating that 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 $4.63 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 75.2%.

W. P. Carey Price Performance

WPC traded down $0.13 on Friday, hitting $62.99. 763,654 shares of the company’s stock were exchanged, compared to its average volume of 1,228,520. W. P. Carey has a fifty-two week low of $51.36 and a fifty-two week high of $67.40. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.16 and a beta of 0.94. The firm has a 50-day moving average price of $59.44 and a 200-day moving average price of $57.37. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The business had revenue of $389.70 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $1.36 earnings per share. As a group, equities analysts anticipate that W. P. Carey will post 4.52 earnings per share for the current year.

Insider Buying and Selling at W. P. Carey

In other news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WPC has been the subject of several recent research reports. Wells Fargo & Company increased their price target on W. P. Carey from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. cut their target price 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. UBS Group boosted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI raised their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday. Finally, Scotiabank decreased their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.30.

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.