W.P. Carey (NYSE:WPC) Sets New 1-Year High - Should You Buy?

Key Points

• W.P. Carey shares hit a new 52-week high at $66.75, and currently trade at $66.25, reflecting a strong demand with over 105,000 shares exchanged.
• Analysts are mixed on the stock, with a consensus rating of "Hold" and a target price averaging around $65.33, while some provide buy ratings amidst upgraded price targets.
• The company recently increased its quarterly dividend to $0.90, yielding 5.4% annually, indicating a strong cash return to shareholders amidst a high payout ratio of 236.84%.

W.P. Carey Inc. (NYSE:WPC - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $66.75 and last traded at $66.25, with a volume of 105790 shares traded. The stock had previously closed at $65.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Barclays set a $61.00 price objective on W.P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research note on Monday, June 9th. Royal Bank Of Canada raised their price objective 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. Finally, Evercore ISI raised their price objective on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $65.33.

W.P. Carey Trading Up 1.1%

The firm has a market cap of $14.52 billion, a P/E ratio of 43.61, a P/E/G ratio of 9.44 and a beta of 0.78. 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 firm has a fifty day moving average of $63.72 and a 200-day moving average of $62.00.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same quarter last year, the business posted $1.17 EPS. The business's revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities research analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Monday, June 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is presently 236.84%.

Institutional Trading of W.P. Carey

A number of institutional investors have recently bought and sold shares of WPC. von Borstel & Associates Inc. acquired a new stake in shares of W.P. Carey in the first quarter worth about $26,000. MTM Investment Management LLC bought a new position in shares of W.P. Carey in the second quarter worth about $28,000. Headlands Technologies LLC bought a new position in shares of W.P. Carey in the second quarter worth about $30,000. TCTC Holdings LLC increased its stake in W.P. Carey by 100.8% during the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 242 shares during the period. Finally, Cheviot Value Management LLC bought a new position in W.P. Carey during the first quarter valued at about $37,000. Institutional investors and hedge funds own 73.73% of the company's stock.

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.

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