W. P. Carey (NYSE:WPC) Price Target Lowered to $60.00 at UBS Group

W. P. Carey (NYSE:WPC) had its target price lowered by UBS Group from $62.00 to $60.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI increased their price objective 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. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Scotiabank cut their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, 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 research note on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Up 1.7 %

Shares of WPC stock opened at $55.77 on Thursday. The stock’s fifty day moving average price is $59.52 and its 200 day moving average price is $58.23. 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 has a 1-year low of $53.09 and a 1-year high of $67.40. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last posted 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 company had revenue of $394.78 million for 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 business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.32 EPS. On average, research analysts expect that W. P. Carey will post 4.52 earnings per share 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 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 dividend on an annualized basis and a yield of 6.28%. W. P. Carey’s dividend payout ratio is 137.80%.

Institutional Investors Weigh In On W. P. Carey

Several hedge funds have recently modified their holdings of the company. HB Wealth Management LLC raised its holdings in W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 8,843 shares during the period. SG Americas Securities LLC lifted its position in shares of W. P. Carey by 41.9% during 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in W. P. Carey by 69.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after acquiring an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after acquiring an additional 9,324 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in W. P. Carey by 9.8% during the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after acquiring an additional 9,619 shares during the period. 73.73% of the stock is owned by hedge funds and other 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.