W. P. Carey Inc. (NYSE:WPC) Increases Dividend to $0.90 Per Share

W. P. Carey Inc. (NYSE:WPC - Get Free Report) declared a quarterly dividend on Thursday, June 12th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.90 per share by the real estate investment trust on Tuesday, July 15th. This represents a $3.60 annualized dividend and a dividend yield of 5.69%. The ex-dividend date is Monday, June 30th. This is a 1.1% increase from W. P. Carey's previous quarterly dividend of $0.89.

W. P. Carey has a payout ratio of 132.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect W. P. Carey to earn $4.72 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 75.4%.

W. P. Carey Trading Down 0.1%

Shares of WPC traded down $0.07 during trading hours on Friday, hitting $63.29. The stock had a trading volume of 1,203,543 shares, compared to its average volume of 1,169,633. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $13.86 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.06 and a beta of 0.80. The company's fifty day simple moving average is $61.28 and its 200 day simple moving average is $59.25. W. P. Carey has a 12-month low of $52.91 and a 12-month high of $66.10.

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

Analysts Set New Price Targets

Several research analysts have commented on WPC shares. BNP Paribas set a $66.00 price objective on W. P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Scotiabank raised their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Barclays set a $61.00 price objective on W. P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. Wells Fargo & Company raised their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Finally, UBS Group cut their price objective on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, W. P. Carey currently has an average rating of "Hold" and an average target price of $100.40.

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.