Brokerages Set W. P. Carey Inc. (NYSE:WPC) Price Target at $62.88

Shares of W. P. Carey Inc. (NYSE:WPC) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $62.88.

A number of equities analysts have issued reports on WPC shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Evercore ISI boosted their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank cut their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Barclays boosted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th.

Hedge Funds Weigh In On W. P. Carey

A number of large investors have recently added to or reduced their stakes in WPC. HB Wealth Management LLC grew its holdings in shares of W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after buying an additional 8,843 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of W. P. Carey by 41.9% in the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after purchasing an additional 46,181 shares in the last quarter. Equity Investment Corp lifted its position in shares of W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in W. P. Carey by 69.5% in the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 9,353 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in W. P. Carey by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after buying an additional 9,619 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.8 %

NYSE:WPC opened at $57.06 on Friday. The stock’s fifty day moving average price is $58.47 and its two-hundred day moving average price is $58.20. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 1.07 and a beta of 0.95. W. P. Carey has a 52-week low of $53.09 and a 52-week high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results 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). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. During the same quarter in the prior year, the business earned $1.32 EPS. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. On average, analysts anticipate that W. P. Carey will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.13%. W. P. Carey’s dividend payout ratio is presently 137.80%.

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.