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

W. P. Carey Inc. (NYSE:WPC - Get Free Report) announced a quarterly dividend on Thursday, June 12th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.69%. This is a 1.1% increase from W. P. Carey's previous quarterly dividend of $0.89.

W. P. Carey has a dividend payout ratio of 132.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 NYSE:WPC traded down $0.04 during mid-day trading on Thursday, reaching $63.30. 818,645 shares of the company were exchanged, compared to its average volume of 1,171,333. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.06 and a beta of 0.80. The firm's 50-day simple moving average is $61.01 and its 200 day simple moving average is $59.15. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $66.10.

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 for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The company had revenue of $407.44 million for 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 business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. Equities research analysts forecast that W. P. Carey will post 4.87 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI raised their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. BNP Paribas Exane raised shares of W. P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research report on Monday. Royal Bank of Canada lifted their price objective on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Scotiabank lifted 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 research note on Wednesday, March 12th. Finally, BNP Paribas set a $66.00 price target on shares of W. P. Carey and gave the stock a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.

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