W. P. Carey (NYSE:WPC) Price Target Lowered to $60.00 at UBS Group

W. P. Carey (NYSE:WPC) had its price objective lowered by UBS Group from $62.00 to $60.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also recently weighed in on WPC. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays raised their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada cut their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Trading Up 1.7 %

Shares of WPC opened at $55.77 on Thursday. W. P. Carey has a twelve month low of $53.09 and a twelve month high of $67.40. The stock has a market cap of $12.21 billion, a PE ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $59.52 and its 200-day moving average price is $58.21.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, equities analysts forecast that W. P. Carey will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.28%. W. P. Carey’s dividend payout ratio is currently 137.80%.

Hedge Funds Weigh In On W. P. Carey

Large investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 172 shares during the period. Catalytic Wealth RIA LLC raised its stake in shares of W. P. Carey by 5.2% during the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 198 shares during the last quarter. Kowal Investment Group LLC grew its stake in shares of W. P. Carey by 3.4% in the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 199 shares during the last quarter. Harbour Investments Inc. increased its holdings in W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 203 shares during the period. Finally, Creative Planning raised its position in W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after purchasing an additional 207 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

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.