W. P. Carey (NYSE:WPC) Sets New 12-Month Low - Here's Why

W. P. Carey Inc. (NYSE:WPC - Get Free Report)'s stock price 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.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WPC. 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 report on Tuesday, December 17th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Friday. UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Evercore ISI increased their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $62.57.

W. P. Carey Stock Down 0.6 %

The firm has a 50-day moving average price of $55.62 and a two-hundred day moving average price of $57.86. The company has a market capitalization of $11.72 billion, a P/E ratio of 21.09, 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 posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the previous year, the firm posted $1.32 EPS. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. Equities research analysts anticipate that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.57%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is currently 138.58%.

Institutional Inflows and Outflows

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