W.P. Carey Inc. (NYSE:WPC) Receives $67.22 Consensus PT from Brokerages

Key Points

• Brokerage Consensus: W.P. Carey Inc. has been given a consensus rating of "Hold" by ten brokerages, with one sell rating, six hold ratings, and three buy ratings.
• Recent Earnings Performance: The company reported an EPS of $1.28 for its last quarter, surpassing analysts' expectations, with revenue up 10.5% year-over-year.
• Dividend Increase: W.P. Carey announced a quarterly dividend increase to $0.91 per share, which represents an annualized yield of 5.4%.

W.P. Carey Inc. (NYSE:WPC - Get Free Report) has earned an average rating of "Hold" from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $67.2222.

Several analysts have recently issued reports on WPC shares. Royal Bank Of Canada upped their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI boosted their price target on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. UBS Group upped their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a report on Friday, August 15th. Scotiabank upped their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Friday, September 5th. Finally, Barclays upped their price objective on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a report on Wednesday, August 20th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WPC. JPMorgan Chase & Co. boosted its stake in W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after buying an additional 3,747,898 shares during the period. Geode Capital Management LLC raised its holdings in shares of W.P. Carey by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,606,018 shares of the real estate investment trust's stock valued at $286,581,000 after acquiring an additional 87,150 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of W.P. Carey by 4.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust's stock valued at $266,224,000 after acquiring an additional 195,466 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of W.P. Carey by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,769,189 shares of the real estate investment trust's stock valued at $172,742,000 after acquiring an additional 106,879 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of W.P. Carey by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust's stock valued at $170,198,000 after acquiring an additional 55,615 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

W.P. Carey Trading Down 0.4%

Shares of NYSE:WPC traded down $0.28 during mid-day trading on Friday, hitting $67.17. The company had a trading volume of 3,449,779 shares, compared to its average volume of 1,062,748. The firm has a fifty day moving average price of $65.62 and a 200 day moving average price of $63.14. The company has a market capitalization of $14.71 billion, a PE ratio of 44.19, a price-to-earnings-growth ratio of 9.82 and a beta of 0.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. W.P. Carey has a one year low of $52.91 and a one year high of $69.00.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. The business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, research analysts forecast that W.P. Carey will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. W.P. Carey's dividend payout ratio (DPR) is 236.84%.

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.