W. P. Carey Inc. (NYSE:WPC) Receives $63.25 Average Target Price from Brokerages

W. P. Carey Inc. (NYSE:WPC) has earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $63.25.

WPC has been the topic of several research analyst reports. Barclays reiterated an “underweight” rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Monday, December 16th. UBS Group reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Evercore ISI upped their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st.

Institutional Investors Weigh In On W. P. Carey

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares in the last quarter. Quarry LP grew its stake in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares during the period. EdgeRock Capital LLC purchased a new stake in W. P. Carey in the 2nd quarter worth $39,000. Maia Wealth LLC acquired a new position in W. P. Carey during the third quarter worth $40,000. Finally, Ridgewood Investments LLC purchased a new position in W. P. Carey during the second quarter valued at $41,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Up 1.5 %

WPC stock opened at $54.25 on Wednesday. The stock has a market capitalization of $11.87 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. W. P. Carey has a 52 week low of $53.09 and a 52 week high of $67.40. 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 firm has a 50 day moving average of $56.78 and a 200 day moving average of $57.97.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Sell-side analysts forecast that W. P. Carey will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.49%. W. P. Carey’s dividend payout ratio is 138.58%.

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.