W.P. Carey’s (WPC) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of W.P. Carey (NYSE:WPC) in a research report released on Friday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. UBS Group raised their price objective 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. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. Barclays upped their price objective on W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a report on Monday, October 20th. Royal Bank Of Canada raised their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Evercore ISI upped their target price on W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.44.

W.P. Carey Price Performance

Shares of NYSE WPC opened at $66.76 on Friday. The stock’s 50-day simple moving average is $67.43 and its two-hundred day simple moving average is $64.25. W.P. Carey has a twelve month low of $52.91 and a twelve month high of $69.79. The firm has a market capitalization of $14.62 billion, a P/E ratio of 43.92, a P/E/G ratio of 9.66 and a beta of 0.81. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. The company had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.W.P. Carey’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities analysts anticipate that W.P. Carey will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.91 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 5.5%. W.P. Carey’s payout ratio is presently 239.47%.

Institutional Investors Weigh In On W.P. Carey

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

W.P. Carey Company Profile

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.