Evercore ISI Cuts W.P. Carey (NYSE:WPC) Price Target to $71.00

W.P. Carey (NYSE:WPC) had its price target decreased by Evercore ISI from $72.00 to $71.00 in a research note released on Monday, Marketbeat reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

WPC has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Scotiabank boosted their price target on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. JPMorgan Chase & Co. reduced their price objective on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $69.00 target price on shares of W.P. Carey in a research report on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.50.

W.P. Carey Price Performance

Shares of WPC opened at $65.14 on Monday. The stock has a 50 day simple moving average of $66.76 and a 200 day simple moving average of $65.67. 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 0.25 and a current ratio of 0.25. The firm has a market capitalization of $14.28 billion, a PE ratio of 39.48, a P/E/G ratio of 6.08 and a beta of 0.78.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $431.30 million for the quarter, compared to analyst estimates of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Sell-side analysts predict that W.P. Carey will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.6%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, December 31st. W.P. Carey’s payout ratio is currently 220.61%.

Institutional Investors Weigh In On W.P. Carey

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MTM Investment Management LLC bought a new position in shares of W.P. Carey in the second quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in W.P. Carey in the second quarter valued at $30,000. Wealth Watch Advisors INC acquired a new stake in W.P. Carey in the third quarter valued at $33,000. LGT Financial Advisors LLC bought a new position in shares of W.P. Carey in the 3rd quarter valued at about $34,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of W.P. Carey during the 2nd quarter worth about $40,000. Institutional investors own 73.73% of the company’s stock.

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.