W.P. Carey (NYSE:WPC) Price Target Raised to $72.00 at Evercore ISI

W.P. Carey (NYSE:WPC) had its price target upped by Evercore ISI from $70.00 to $72.00 in a research note issued to investors on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

WPC has been the subject of several other research reports. Scotiabank upped 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 report on Friday, September 5th. UBS Group upped their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Royal Bank Of Canada upped their target price on shares of W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Finally, Barclays upped their target price on shares of W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.89.

W.P. Carey Stock Down 1.3%

NYSE WPC opened at $65.39 on Thursday. The stock has a fifty day moving average of $67.46 and a 200-day moving average of $64.44. The stock has a market capitalization of $14.32 billion, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 9.57 and a beta of 0.81. W.P. Carey has a 52 week low of $52.91 and a 52 week high of $69.79. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.19 and a current ratio of 0.25.

W.P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. The company had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $424.44 million. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, equities research analysts forecast that W.P. Carey will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.91 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s dividend payout ratio is presently 220.61%.

Hedge Funds Weigh In On W.P. Carey

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. von Borstel & Associates Inc. bought a new stake in shares of W.P. Carey in the first quarter valued at about $26,000. MTM Investment Management LLC bought a new position in shares of W.P. Carey during the second quarter worth about $28,000. TCTC Holdings LLC raised its position in W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 242 shares during the last quarter. Headlands Technologies LLC bought a new stake in W.P. Carey in the 2nd quarter valued at approximately $30,000. Finally, Cheviot Value Management LLC acquired a new position in W.P. Carey during the 1st quarter worth approximately $37,000. 73.73% of the stock is 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.