Analysts Set W. P. Carey Inc. (NYSE:WPC) Price Target at $62.88

Shares of W. P. Carey Inc. (NYSE:WPC) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $62.88.

A number of equities research analysts have recently weighed in on WPC shares. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 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 report on Thursday, October 10th. Evercore ISI upped 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 report on Monday, September 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th.

Institutional Investors Weigh In On W. P. Carey

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after buying an additional 127,477 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after acquiring an additional 588,636 shares during the period. Dimensional Fund Advisors LP raised its position in shares of W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after acquiring an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after purchasing an additional 103,147 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of W. P. Carey by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after purchasing an additional 7,549 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.8 %

Shares of WPC opened at $57.58 on Friday. The firm has a 50 day simple moving average of $58.95 and a two-hundred day simple moving average of $58.23. The company has a market cap of $12.60 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey has a one year low of $53.09 and a one year high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share 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 business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the company earned $1.32 earnings per share. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. Research 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. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.08%. W. P. Carey’s payout ratio is presently 137.80%.

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.