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

W.P. Carey Inc. (NYSE:WPC - Get Free Report) has received a consensus recommendation of "Hold" from the eleven ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $100.60.

Several brokerages have weighed in on WPC. Scotiabank lifted their target price on W.P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. UBS Group decreased their target price on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada lifted their price target on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price target on W.P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th.

W.P. Carey Trading Down 0.5%

Shares of W.P. Carey stock traded down $0.33 during trading hours on Friday, reaching $63.00. The stock had a trading volume of 441,062 shares, compared to its average volume of 1,166,449. The firm has a 50 day simple moving average of $62.26 and a two-hundred day simple moving average of $59.99. The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 7.04 and a beta of 0.78. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. 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 earnings results 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). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The company had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the business posted $1.14 EPS. W.P. Carey's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities research 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 will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.90 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Monday, June 30th. W.P. Carey's dividend payout ratio is currently 185.57%.

Institutional Investors Weigh In On W.P. Carey

Several large investors have recently modified their holdings of WPC. Vanguard Group Inc. boosted its holdings in shares of W.P. Carey by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after acquiring an additional 242,576 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $322,630,000 after acquiring an additional 3,747,898 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of W.P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after acquiring an additional 135,090 shares in the last quarter. Massachusetts Financial Services Co. MA boosted 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 worth $266,224,000 after acquiring an additional 195,466 shares in the last quarter. Finally, Northern Trust Corp boosted 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 worth $170,198,000 after acquiring an additional 55,615 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

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.