W. P. Carey Inc. (NYSE:WPC) Given Average Rating of “Hold” by Analysts

W. P. Carey Inc. (NYSE:WPC) has been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $62.88.

Several equities analysts recently commented on the company. Royal Bank of Canada reduced their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Evercore ISI boosted their target price on shares of 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. Barclays upped their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Scotiabank decreased their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th.

Hedge Funds Weigh In On W. P. Carey

Several large investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV raised its stake in W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP raised its position in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares in the last quarter. Lynx Investment Advisory acquired a new position in W. P. Carey in the second quarter worth $34,000. Finally, EdgeRock Capital LLC acquired a new position in W. P. Carey in the second quarter worth $39,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

W. P. Carey stock opened at $57.10 on Friday. The firm has a fifty day moving average of $59.08 and a 200-day moving average of $58.22. W. P. Carey has a 52-week low of $53.09 and a 52-week high of $67.40. 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 firm has a market capitalization of $12.50 billion, a P/E ratio of 22.48, a PEG ratio of 1.05 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share 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 period last year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts predict that W. P. Carey will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.13%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is presently 137.80%.

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.