W. P. Carey (NYSE:WPC) Earns “Market Perform” Rating from JMP Securities

JMP Securities restated their market perform rating on shares of W. P. Carey (NYSE:WPC) in a research note issued to investors on Friday morning,Benzinga reports.

A number of other research firms also recently issued reports on WPC. Barclays restated an “underweight” rating and issued a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $62.57.

W. P. Carey Stock Performance

WPC stock opened at $53.93 on Friday. The company has a market cap of $11.80 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. W. P. Carey has a 1 year low of $53.09 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s fifty day moving average price is $55.62 and its 200-day moving average price is $57.86.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.32 earnings per share. On average, equities analysts forecast that W. P. Carey will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 6.53%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

Hedge Funds Weigh In On W. P. Carey

Large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the last quarter. Kowal Investment Group LLC increased its holdings in shares of W. P. Carey by 3.4% in the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 199 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of W. P. Carey by 5.9% in the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 203 shares during the last quarter. Creative Planning increased its holdings in shares of W. P. Carey by 0.3% in the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after purchasing an additional 207 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of W. P. Carey by 9.5% in the third quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 212 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.