W. P. Carey (NYSE:WPC) Reaches New 1-Year Low – Here’s Why

W. P. Carey Inc. (NYSE:WPC) shares hit a new 52-week low on Monday . The company traded as low as $52.98 and last traded at $53.06, with a volume of 289517 shares changing hands. The stock had previously closed at $53.88.

Analyst Ratings Changes

WPC has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays reaffirmed an “underweight” rating and set a $59.00 price target (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.57.

W. P. Carey Price Performance

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.04 and a beta of 0.97. The stock has a 50-day moving average price of $55.56 and a 200 day moving average price of $57.84.

W. P. Carey (NYSE:WPC) last released 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 firm had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same quarter in the prior year, the business earned $1.32 EPS. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm 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. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 6.48%. W. P. Carey’s dividend payout ratio is 138.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP raised its holdings in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares during the last quarter. Maia Wealth LLC acquired a new position in W. P. Carey in the 3rd quarter valued at about $40,000. Massmutual Trust Co. FSB ADV raised its stake in W. P. Carey by 35.9% during 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 last quarter. Abich Financial Wealth Management LLC lifted its position in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 641 shares during the period. Finally, Fortitude Family Office LLC grew its stake in shares of W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares during the last quarter. 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.