W. P. Carey (NYSE:WPC) Given “Underweight” Rating at Barclays

Barclays reaffirmed their underweight rating on shares of W. P. Carey (NYSE:WPC) in a report published on Tuesday, MarketBeat.com 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 subject of a number of other reports. Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Monday. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average target price of $63.25.

W. P. Carey Price Performance

WPC stock opened at $53.44 on Tuesday. The business’s fifty day moving average price is $56.90 and its 200 day moving average price is $58.00. W. P. Carey has a 12-month low of $53.09 and a 12-month high of $67.40. The company has a market capitalization of $11.70 billion, a PE ratio of 21.04, a P/E/G ratio of 1.04 and a beta of 0.96. 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 (NYSE:WPC) last issued its quarterly 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). 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 analysts’ expectations of $377.43 million. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that W. P. Carey will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost 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 6.59%. W. P. Carey’s payout ratio is 138.58%.

Hedge Funds Weigh In On W. P. Carey

Several hedge funds have recently made changes to their positions in WPC. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares during the period. Catalytic Wealth RIA LLC raised its holdings in shares of W. P. Carey by 5.2% in the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 198 shares during the last quarter. Kowal Investment Group LLC boosted its stake in shares of W. P. Carey by 3.4% during the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 199 shares during the period. Harbour Investments Inc. lifted its position in W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 203 shares during the period. Finally, Creative Planning lifted its holdings in shares of W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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.