Brokerages Set W. P. Carey Inc. (NYSE:WPC) PT at $62.57

Shares of W. P. Carey Inc. (NYSE:WPC) have been assigned an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.57.

Several brokerages have recently weighed in on WPC. Barclays restated an “underweight” rating and issued a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. 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 report on Tuesday, October 1st. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Finally, UBS Group cut their price target on 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.

W. P. Carey Stock Up 1.4 %

Shares of NYSE WPC opened at $54.26 on Friday. The stock has a fifty day moving average price of $55.59 and a 200 day moving average price of $57.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey has a 12-month low of $52.91 and a 12-month high of $67.17. The company has a market cap of $11.87 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.04 and a beta of 0.97.

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 analysts’ consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. Research analysts anticipate that W. P. Carey will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.49%. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

Institutional Trading of W. P. Carey

Several hedge funds and other institutional investors have recently bought and sold shares of WPC. Geode Capital Management LLC grew its position 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 worth $284,426,000 after acquiring an additional 127,477 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in W. P. Carey by 22.2% during the second 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 purchasing an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 worth $173,570,000 after purchasing an additional 204,064 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in W. P. Carey by 4.1% in the third 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. 73.73% of the stock is owned by 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.