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

Shares of W. P. Carey Inc. (NYSE:WPC) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $63.25.

A number of equities research analysts have recently issued reports on the stock. 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 research report on Tuesday, October 1st. Barclays reissued an “underweight” rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday. UBS Group decreased their price objective 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. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Monday. Finally, Evercore ISI increased 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 report on Monday, September 16th.

Institutional Investors Weigh In On W. P. Carey

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares in the last quarter. Quarry LP raised its holdings 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 worth $31,000 after acquiring an additional 357 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey during the 2nd quarter worth approximately $39,000. Maia Wealth LLC bought a new position in shares of W. P. Carey during the 3rd quarter valued at approximately $40,000. Finally, Ridgewood Investments LLC purchased a new position in shares of W. P. Carey in the second quarter valued at $41,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.6 %

W. P. Carey stock opened at $56.38 on Wednesday. W. P. Carey has a one year low of $53.09 and a one year high of $67.40. The stock has a fifty day moving average of $57.08 and a 200 day moving average of $58.03. 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 stock has a market cap of $12.34 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 EPS. As a group, sell-side analysts predict that W. P. Carey will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 6.24%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 138.58%.

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.