W. P. Carey Inc. (NYSE:WPC) Given Average Recommendation of "Hold" by Brokerages

Shares of W. P. Carey Inc. (NYSE:WPC - Get Free Report) have been given an average recommendation of "Hold" by the nine analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $108.88.

A number of brokerages have recently weighed in on WPC. Royal Bank of Canada upped their price target on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company upped their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. UBS Group cut their price target on shares of W. P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday. Scotiabank upped their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, Evercore ISI upped their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th.

Hedge Funds Weigh In On W. P. Carey

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in W. P. Carey by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after acquiring an additional 3,747,898 shares during the period. Norges Bank acquired a new position in W. P. Carey in the 4th quarter valued at approximately $139,381,000. Pacer Advisors Inc. increased its position in W. P. Carey by 1,016.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock valued at $110,564,000 after acquiring an additional 1,595,045 shares during the period. Demars Financial Group LLC increased its position in W. P. Carey by 10,001.1% in the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock valued at $54,387,000 after acquiring an additional 988,409 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after acquiring an additional 906,622 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

NYSE WPC opened at $61.88 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $13.55 billion, a P/E ratio of 29.61, a P/E/G ratio of 1.06 and a beta of 0.78. W. P. Carey has a 12-month low of $52.91 and a 12-month high of $66.10. The firm has a 50-day moving average price of $60.95 and a two-hundred day moving average price of $58.38.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Analysts anticipate that W. P. Carey will post 4.87 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.75%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio is currently 183.51%.

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.

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