W. P. Carey (NYSE:WPC) Earns "Market Perform" Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of W. P. Carey (NYSE:WPC - Free Report) in a report published on Friday morning,Benzinga reports.

A number of other analysts also recently issued reports on the stock. Barclays reaffirmed an "underweight" rating and set a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. UBS Group dropped their price objective 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. Evercore ISI lifted their price objective on shares of 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 set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. One research 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $62.57.

W. P. Carey Price Performance

NYSE:WPC traded down $0.85 during trading hours on Friday, hitting $53.93. The stock had a trading volume of 1,445,314 shares, compared to its average volume of 1,196,618. The company has a 50 day simple moving average of $55.65 and a two-hundred day simple moving average of $57.83. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey has a one year low of $53.09 and a one year high of $67.40. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the business earned $1.32 earnings per share. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Research analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.88 dividend. 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. This represents a $3.52 annualized dividend and a yield of 6.53%. W. P. Carey's payout ratio is currently 138.58%.

Hedge Funds Weigh In On W. P. Carey

Hedge funds have recently modified their holdings of the company. Quarry LP increased its position 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 period. Maia Wealth LLC purchased a new position in shares of W. P. Carey in the third quarter valued at about $40,000. Massmutual Trust Co. FSB ADV increased its position in shares of W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 172 shares during the period. Abich Financial Wealth Management LLC increased its position in shares of 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 valued at $42,000 after acquiring an additional 641 shares during the period. Finally, Fortitude Family Office LLC increased its position 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 valued at $42,000 after buying an additional 616 shares during the period. Hedge funds and other 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.