Brokerages Set W. P. Carey Inc. (NYSE:WPC) PT at $63.25

Shares of W. P. Carey Inc. (NYSE:WPC - Get Free Report) have received a consensus recommendation of "Hold" from the nine ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $63.25.

WPC has been the topic of several research analyst reports. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays reiterated an "underweight" rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday. Evercore ISI lifted their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a report on Monday. Finally, UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th.

W. P. Carey Stock Down 3.8 %

Shares of NYSE:WPC traded down $2.15 during trading hours on Wednesday, reaching $54.21. The stock had a trading volume of 1,440,710 shares, compared to its average volume of 1,208,496. W. P. Carey has a 1 year low of $53.09 and a 1 year high of $67.40. The firm's 50 day moving average is $57.02 and its 200-day moving average is $58.03. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million during 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%. The firm's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. Research analysts predict that W. P. Carey will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 6.49%. W. P. Carey's payout ratio is presently 138.58%.

Institutional Trading of W. P. Carey

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC increased its stake in shares of W. P. Carey by 247.3% during the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust's stock worth $684,000 after purchasing an additional 8,843 shares in the last quarter. Equity Investment Corp increased its position in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock worth $92,305,000 after buying an additional 9,610 shares in the last quarter. SG Americas Securities LLC increased its position in W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust's stock worth $9,742,000 after buying an additional 46,181 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of W. P. Carey by 69.5% in the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust's stock worth $1,319,000 after acquiring an additional 9,353 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of W. P. Carey in the third quarter valued at $1,692,000. 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.