Shares of W.P. Carey Inc. (NYSE:WPC – Get Free Report) have been given an average recommendation of “Hold” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $67.2222.
A number of research firms have issued reports on WPC. Evercore ISI lifted their target price on shares of W.P. Carey from $66.00 to $70.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Scotiabank lifted their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Friday, September 5th. Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th.
W.P. Carey Stock Performance
W.P. Carey (NYSE:WPC – Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to analysts’ expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Research analysts anticipate that W.P. Carey will post 4.87 earnings per share for the current fiscal year.
W.P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.91 dividend. The ex-dividend date was Tuesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.3%. W.P. Carey’s dividend payout ratio is presently 239.47%.
Institutional Trading of W.P. Carey
A number of institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. lifted its holdings in W.P. Carey by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 168 shares in the last quarter. Griffin Asset Management Inc. lifted its holdings in W.P. Carey by 0.6% during the 2nd quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock worth $2,011,000 after purchasing an additional 178 shares in the last quarter. BridgePort Financial Solutions LLC lifted its holdings in W.P. Carey by 0.6% during the 2nd quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock worth $1,789,000 after purchasing an additional 180 shares in the last quarter. Cooper Financial Group lifted its holdings in W.P. Carey by 1.5% during the 2nd quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock worth $749,000 after purchasing an additional 181 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in W.P. Carey by 2.8% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust’s stock worth $434,000 after purchasing an additional 185 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.
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.
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