W.P. Carey Inc. (NYSE:WPC) Receives $100.60 Average PT from Analysts

Shares of W.P. Carey Inc. (NYSE:WPC - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $100.60.

WPC has been the subject of several analyst reports. Royal Bank Of Canada boosted 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. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. Scotiabank boosted 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. Evercore ISI boosted their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday. Finally, Barclays set a $61.00 price target on shares of W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st.

Institutional Trading of W.P. Carey

Several institutional investors have recently modified their holdings of WPC. Vanguard Group Inc. raised its position in 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 valued at $1,679,110,000 after purchasing an additional 242,576 shares during the last quarter. JPMorgan Chase & Co. raised 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 purchasing an additional 3,747,898 shares during the last quarter. Geode Capital Management LLC raised its position in 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 valued at $256,201,000 after purchasing an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 purchasing an additional 195,466 shares during the last quarter. Finally, Northern Trust Corp raised its position in 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 purchasing an additional 55,615 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Down 0.5%

Shares of WPC stock traded down $0.33 during trading on Friday, reaching $63.00. The company's stock had a trading volume of 441,062 shares, compared to its average volume of 1,166,449. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. W.P. Carey has a 1-year low of $52.91 and a 1-year high of $66.10. The company 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 stock's 50-day moving average price is $62.26 and its 200 day moving average price is $59.99.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the firm earned $1.14 EPS. The company's revenue was up 5.3% on a year-over-year basis. On average, research analysts anticipate that W.P. Carey will post 4.87 EPS 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 given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is currently 185.57%.

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.