W.P. Carey Inc. (NYSE:WPC) Raises Dividend to $0.91 Per Share

Key Points

• W.P. Carey Inc. has announced a quarterly dividend of $0.91 per share, an increase of 1.1% from the previous dividend of $0.90, with a dividend yield of 5.4%.
• The company currently has a payout ratio of 132.3%, indicating that it relies on its balance sheet to cover dividend payments, although future earnings are expected to allow for a sustainable ratio of 75.4%.
• W.P. Carey reported earnings per share of $1.28 for the last quarter, surpassing analyst estimates, and indicated a projected annual EPS of $4.87 for the current fiscal year.

W.P. Carey Inc. (NYSE:WPC - Get Free Report) declared a quarterly dividend on Thursday, September 18th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.91 per share by the real estate investment trust on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Tuesday, September 30th. This is a 1.1% increase from W.P. Carey's previous quarterly dividend of $0.90.

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 Price Performance

WPC traded down $0.28 on Friday, reaching $67.17. The company had a trading volume of 3,449,779 shares, compared to its average volume of 1,062,748. W.P. Carey has a 52-week low of $52.91 and a 52-week high of $69.00. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 44.19, a P/E/G ratio of 9.82 and a beta of 0.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The business has a 50 day simple moving average of $65.62 and a 200 day simple moving average of $63.14.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI upped their price objective on W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Scotiabank increased their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Friday, September 5th. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a research note on Monday, June 9th. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Finally, Royal Bank Of Canada lifted 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 report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.22.

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.