W. P. Carey Inc. (WPC) To Go Ex-Dividend on December 31st

W. P. Carey Inc. (NYSE:WPC) announced a quarterly dividend on Thursday, December 12th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.88 per share by the real estate investment trust on Wednesday, January 15th. This represents a $3.52 annualized dividend and a yield of 6.46%. The ex-dividend date is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88.

W. P. Carey has decreased its dividend by an average of 0.9% annually over the last three years. W. P. Carey has a dividend payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect W. P. Carey to earn $4.66 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 75.5%.

W. P. Carey Trading Down 0.6 %

WPC stock opened at $54.51 on Friday. W. P. Carey has a 12-month low of $53.09 and a 12-month high of $67.40. The business’s 50-day moving average is $56.18 and its 200 day moving average is $57.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last issued its quarterly 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). The firm had revenue of $394.78 million for 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 firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. On average, sell-side analysts anticipate that W. P. Carey will post 4.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WPC has been the topic of a number of recent research reports. Barclays restated an “underweight” rating and set a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI raised their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.25.

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.