W. P. Carey Inc. (NYSE:WPC) Receives $63.25 Consensus PT from Analysts

W. P. Carey Inc. (NYSE:WPC) has been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $63.25.

WPC has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Scotiabank decreased their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Evercore ISI increased their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th.

W. P. Carey Stock Down 0.9 %

NYSE:WPC opened at $55.69 on Tuesday. The firm has a market capitalization of $12.19 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The stock has a 50 day moving average of $60.60 and a 200-day moving average of $58.18. W. P. Carey has a 52 week low of $52.67 and a 52 week high of $67.40. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period last year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts predict that W. P. Carey will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio is 137.80%.

Insiders Place Their Bets

In related news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On W. P. Carey

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dudley Capital Management LLC lifted its position in shares of W. P. Carey by 7.2% during the 3rd quarter. Dudley Capital Management LLC now owns 7,400 shares of the real estate investment trust’s stock valued at $461,000 after acquiring an additional 500 shares during the last quarter. Maia Wealth LLC purchased a new stake in shares of W. P. Carey in the third quarter valued at $40,000. Focused Wealth Management Inc purchased a new stake in shares of W. P. Carey in the third quarter valued at $204,000. NorthRock Partners LLC purchased a new stake in shares of W. P. Carey in the third quarter valued at $223,000. Finally, Clarity Financial LLC purchased a new stake in shares of W. P. Carey in the third quarter valued at $376,000. Institutional investors and hedge funds 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.