W. P. Carey Inc. (NYSE:WPC) Receives Consensus Recommendation of "Hold" from Analysts

W. P. Carey Inc. (NYSE:WPC - Get Free Report) has received a consensus recommendation of "Hold" from the nine brokerages that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $63.25.

Several research firms recently issued reports on WPC. Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on shares of W. P. Carey from $70.00 to $68.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, July 18th. Finally, Evercore ISI upped their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a report on Monday, September 16th.

W. P. Carey Stock Performance

Shares of NYSE WPC traded down $0.76 during mid-day trading on Tuesday, hitting $56.72. The stock had a trading volume of 1,377,414 shares, compared to its average volume of 1,208,216. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The company has a 50 day moving average of $60.65 and a two-hundred day moving average of $58.19. W. P. Carey has a twelve month low of $51.60 and a twelve month high of $67.40. The firm has a market cap of $12.41 billion, a PE ratio of 21.57, a PEG ratio of 1.11 and a beta of 0.94.

W. P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same period in the previous year, the company earned $1.36 earnings per share. W. P. Carey's revenue was down 13.9% on a year-over-year basis. Research analysts predict that W. P. Carey will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey's dividend payout ratio is presently 133.08%.

Insider Transactions at W. P. Carey

In related news, Director Mark A. Alexander purchased 3,500 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now owns 38,124 shares of the company's stock, valued at $2,129,987.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.08% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WPC. Richardson Financial Services Inc. acquired a new stake in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 453 shares during the last quarter. Quarry LP raised its holdings in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 357 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new stake in W. P. Carey in the 2nd quarter valued at about $34,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

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.