W.P. Carey Inc. (NYSE:WPC) Receives $67.22 Average PT from Analysts

Shares of W.P. Carey Inc. (NYSE:WPC) 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

WPC stock opened at $68.13 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market cap of $14.92 billion, a P/E ratio of 44.82, a P/E/G ratio of 9.86 and a beta of 0.81. The firm has a 50 day simple moving average of $67.15 and a 200 day simple moving average of $63.82. W.P. Carey has a 52 week low of $52.91 and a 52 week high of $69.79.

W.P. Carey (NYSE:WPC) 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.