W. P. Carey (NYSE:WPC) Receives Underweight Rating from Barclays

Barclays reissued their underweight rating on shares of W. P. Carey (NYSE:WPC) in a report published on Tuesday, MarketBeat Ratings reports. The firm currently has a $59.00 price target on the real estate investment trust’s stock, up from their prior price target of $56.00.

WPC has been the topic of several other research reports. UBS Group reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Monday. Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Price Performance

Shares of WPC opened at $56.38 on Tuesday. 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 stock has a market cap of $12.34 billion, a PE ratio of 22.20, a PEG ratio of 1.04 and a beta of 0.96. W. P. Carey has a 12-month low of $53.09 and a 12-month high of $67.40. The business has a 50-day simple moving average of $57.08 and a two-hundred day simple moving average of $58.03.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the company earned $1.32 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. Analysts anticipate that W. P. Carey will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.88 dividend. 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 6.24%. The ex-dividend date of this dividend is Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

Hedge Funds Weigh In On W. P. Carey

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

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.