W. P. Carey Inc. (NYSE:WPC) Receives $62.57 Average Target Price from Brokerages

Shares of W. P. Carey Inc. (NYSE:WPC) have been given an average rating of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $62.43.

Several research firms have commented on WPC. Barclays reiterated an “underweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group reduced 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. Scotiabank lowered their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th.

W. P. Carey Trading Up 2.3 %

Shares of W. P. Carey stock opened at $55.55 on Friday. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $66.99. 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 business has a 50-day moving average price of $55.53 and a 200-day moving average price of $57.80. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 0.97 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data 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). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 EPS. Equities research analysts anticipate that W. P. Carey will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This is a positive change 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 6.34%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 138.58%.

Hedge Funds Weigh In On W. P. Carey

Hedge funds have recently bought and sold shares of the business. Equity Investment Corp boosted its stake in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after purchasing an additional 9,610 shares during the period. SG Americas Securities LLC boosted its position in W. P. Carey by 41.9% in 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 during the period. 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 worth $1,319,000 after acquiring an additional 9,353 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of W. P. Carey during the third quarter worth approximately $1,692,000. Finally, abrdn plc raised its stake in shares of W. P. Carey by 9.9% during the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock valued at $6,396,000 after acquiring an additional 9,229 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

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.