W.P. Carey (NYSE:WPC) Price Target Raised to $70.00

Key Points

• Evercore ISI has raised the target price for W.P. Carey (NYSE:WPC) from $66.00 to $70.00, indicating a potential upside of 2.04% based on the stock's previous close.
• Currently, W.P. Carey holds a consensus rating of "Hold" with a price target averaging $67.22, while having various ratings from different analysts including three Buy, six Hold, and one Sell.
• W.P. Carey recently reported a quarterly earnings per share of $1.28, exceeding expectations and reflecting a year-over-year revenue increase of 10.5%.

W.P. Carey (NYSE:WPC - Free Report) had its target price upped by Evercore ISI from $66.00 to $70.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have an in-line rating on the real estate investment trust's stock.

Other equities analysts have also issued research reports about the stock. Barclays upped their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. Scotiabank upped their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Friday, September 5th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Wells Fargo & Company raised shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Royal Bank Of Canada upped their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $67.22.

W.P. Carey Stock Performance

Shares of W.P. Carey stock traded down $0.08 during trading on Monday, hitting $67.37. 742,344 shares of the stock were exchanged, compared to its average volume of 1,223,867. The stock's fifty day moving average is $65.54 and its 200 day moving average is $63.13. The stock has a market cap of $14.75 billion, a PE ratio of 44.32, a P/E/G ratio of 9.89 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. W.P. Carey has a 12 month low of $52.91 and a 12 month high of $69.00.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping the consensus estimate 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%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. 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.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. This is a boost 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 is presently 236.84%.

Hedge Funds Weigh In On W.P. Carey

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPC. Janus Henderson Group PLC grew its holdings in W.P. Carey by 130.2% during the fourth quarter. Janus Henderson Group PLC now owns 27,585 shares of the real estate investment trust's stock valued at $1,503,000 after purchasing an additional 15,600 shares during the last quarter. Millennium Management LLC grew its holdings in W.P. Carey by 514.7% during the fourth quarter. Millennium Management LLC now owns 538,933 shares of the real estate investment trust's stock valued at $29,361,000 after purchasing an additional 451,262 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in W.P. Carey by 20.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 9,130 shares of the real estate investment trust's stock valued at $497,000 after purchasing an additional 1,548 shares during the last quarter. Quantinno Capital Management LP grew its holdings in W.P. Carey by 120.2% during the fourth quarter. Quantinno Capital Management LP now owns 50,382 shares of the real estate investment trust's stock valued at $2,745,000 after purchasing an additional 27,498 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in W.P. Carey by 6.8% during the fourth quarter. Toronto Dominion Bank now owns 29,414 shares of the real estate investment trust's stock valued at $1,602,000 after purchasing an additional 1,863 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

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.