W. P. Carey (NYSE:WPC) Reaches New 1-Year Low - Here's Why

W. P. Carey Inc. (NYSE:WPC - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $52.98 and last traded at $53.06, with a volume of 289517 shares changing hands. The stock had previously closed at $53.88.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of analyst reports. Barclays restated an "underweight" rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Friday, January 10th. UBS Group lowered their price objective 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. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $62.57.

W. P. Carey Stock Performance

The stock's fifty day simple moving average is $55.56 and its 200-day simple moving average is $57.84. The company has a market capitalization of $11.88 billion, a PE ratio of 21.38, a PEG ratio of 1.04 and a beta of 0.97. 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 (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analysts' expectations of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 earnings per share. On average, research analysts predict that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is 138.58%.

Institutional Investors Weigh In On W. P. Carey

Large investors have recently added to or reduced their stakes in the business. Quarry LP raised its position in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 357 shares during the last quarter. Maia Wealth LLC purchased a new position in shares of W. P. Carey during the 3rd quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV raised its position in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 172 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 616 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

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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