W.P. Carey Inc. (NYSE:WPC) Announces Quarterly Dividend of $0.91

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) announced a quarterly dividend on Thursday, September 18th, RTT News reports. Investors 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 of this dividend 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 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. 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 up $0.00 on Monday, reaching $67.17. 828,082 shares of the company's stock were exchanged, compared to its average volume of 1,162,934. W.P. Carey has a twelve month low of $52.91 and a twelve month high of $69.00. The stock has a market cap of $14.71 billion, a PE ratio of 44.19, a P/E/G ratio of 9.78 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. The stock's fifty day moving average price is $65.70 and its 200-day moving average price is $63.14.

W.P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. The business had revenue of $430.78 million for 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%. The business's revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Sell-side analysts expect that W.P. Carey will post 4.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WPC shares. Wells Fargo & Company raised W.P. Carey from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. Royal Bank Of Canada upped their price target on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI raised their price objective on W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. UBS Group upped their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, Barclays lifted their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $67.22.

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.