W. P. Carey (NYSE:WPC) Given Market Perform Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of W. P. Carey (NYSE:WPC) in a research note published on Monday,Benzinga reports.

Other analysts also recently issued research reports about the stock. 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 note on Thursday, October 10th. UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Evercore ISI upped their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company restated 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.25.

W. P. Carey Stock Performance

WPC stock opened at $54.21 on Monday. W. P. Carey has a twelve month low of $53.09 and a twelve month high of $67.40. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.04 and a beta of 0.96. The business’s fifty day simple moving average is $57.02 and its two-hundred day simple moving average is $58.03. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last posted 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 company had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. Analysts predict that W. P. Carey will post 4.5 earnings per share 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. Stockholders of record on Tuesday, December 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.49%. W. P. Carey’s dividend payout ratio (DPR) is currently 138.58%.

Institutional Investors Weigh In On W. P. Carey

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after purchasing an additional 127,477 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after buying an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of W. P. Carey by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after acquiring an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of W. P. Carey by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after acquiring an additional 103,147 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in W. P. Carey by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after acquiring an additional 7,549 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.