W. P. Carey Inc. (NYSE:WPC) Receives Average Rating of “Hold” from Brokerages

W. P. Carey Inc. (NYSE:WPC) has received an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.88.

A number of research analysts have recently commented on WPC shares. 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. Barclays lifted their price target 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. Royal Bank of Canada decreased their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. UBS Group dropped their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Evercore ISI upped their price target 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.

W. P. Carey Trading Up 1.2 %

NYSE:WPC opened at $57.54 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $12.59 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.07 and a beta of 0.95. The stock’s 50 day moving average price is $58.70 and its 200 day moving average price is $58.21. W. P. Carey has a 52 week low of $53.09 and a 52 week high of $67.40.

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). The business 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%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 EPS. On average, research analysts forecast that W. P. Carey will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.08%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is currently 137.80%.

Institutional Trading of W. P. Carey

Several institutional investors have recently modified their holdings of WPC. HB Wealth Management LLC raised its stake in shares of W. P. Carey by 247.3% in the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares in the last quarter. SG Americas Securities LLC increased its holdings in W. P. Carey by 41.9% in the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after buying an additional 46,181 shares during the period. Equity Investment Corp raised its stake in shares of W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 9,353 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of W. P. Carey by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after acquiring an additional 9,619 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.