W. P. Carey Inc. (NYSE:WPC) Declares Quarterly Dividend of $0.89

W. P. Carey Inc. (NYSE:WPC) declared a quarterly dividend on Thursday, March 13th, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.89 per share by the real estate investment trust on Tuesday, April 15th. This represents a $3.56 annualized dividend and a yield of 5.68%. The ex-dividend date is Monday, March 31st. This is a 1.1% increase from W. P. Carey’s previous quarterly dividend of $0.88.

W. P. Carey has decreased its dividend payment by an average of 6.0% annually over the last three years. W. P. Carey has a dividend payout ratio of 128.0% 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 $4.72 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 74.6%.

W. P. Carey Trading Up 1.6 %

Shares of WPC stock opened at $62.64 on Friday. The stock has a market cap of $13.71 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The business has a fifty day simple moving average of $58.41 and a 200-day simple moving average of $58.30.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WPC shares. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Barclays boosted their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Scotiabank upped their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus target price of $63.75.

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.