UBS Group Cuts W. P. Carey (NYSE:WPC) Price Target to $60.00

W. P. Carey (NYSE:WPC - Free Report) had its target price decreased by UBS Group from $62.00 to $60.00 in a research note published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust's stock.

A number of other equities research analysts also recently weighed in on the company. Scotiabank cut their price target on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price target on W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Barclays lifted their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $62.88.

W. P. Carey Stock Performance

NYSE WPC traded down $0.57 during trading hours on Thursday, hitting $54.84. The company had a trading volume of 962,520 shares, compared to its average volume of 1,213,502. The firm has a market cap of $12.00 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The business has a fifty day simple moving average of $59.63 and a 200-day simple moving average of $58.19.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the business posted $1.32 earnings per share. Equities analysts predict that W. P. Carey will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is 137.80%.

Institutional Investors Weigh In On W. P. Carey

Hedge funds and other institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 buying an additional 453 shares during the last quarter. Quarry LP grew its position in shares of 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 buying an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of W. P. Carey in the 2nd quarter valued at about $34,000. Finally, EdgeRock Capital LLC bought a new stake in shares of W. P. Carey in the 2nd quarter valued at about $39,000. Institutional investors 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.