Brokerages Set W. P. Carey Inc. (NYSE:WPC) Price Target at $63.36

Shares of W. P. Carey Inc. (NYSE:WPC) have received a consensus recommendation of “Reduce” from the eleven research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $63.36.

A number of research analysts recently weighed in on WPC shares. Wells Fargo & Company cut their price objective on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Royal Bank of Canada cut their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Barclays started coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Finally, StockNews.com began coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On W. P. Carey

Several institutional investors have recently bought and sold shares of WPC. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of W. P. Carey by 20.6% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 134 shares during the last quarter. Arbor Capital Management Inc. ADV lifted its stake in W. P. Carey by 1.5% in the first quarter. Arbor Capital Management Inc. ADV now owns 9,465 shares of the real estate investment trust’s stock valued at $706,000 after buying an additional 143 shares during the period. Lido Advisors LLC lifted its stake in W. P. Carey by 3.2% in the first quarter. Lido Advisors LLC now owns 5,292 shares of the real estate investment trust’s stock valued at $410,000 after buying an additional 166 shares during the period. Public Sector Pension Investment Board lifted its stake in W. P. Carey by 0.9% in the fourth quarter. Public Sector Pension Investment Board now owns 20,801 shares of the real estate investment trust’s stock valued at $1,348,000 after buying an additional 190 shares during the period. Finally, Raleigh Capital Management Inc. lifted its stake in W. P. Carey by 3.9% in the third quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 191 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 2.1 %

Shares of W. P. Carey stock opened at $54.64 on Friday. The stock has a 50-day moving average price of $56.08 and a 200 day moving average price of $58.66. The company has a market cap of $11.96 billion, a P/E ratio of 16.56, a P/E/G ratio of 0.42 and a beta of 0.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey has a 1 year low of $51.36 and a 1 year high of $74.66.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same period last year, the business earned $1.29 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts expect that W. P. Carey will post 4.57 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.865 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.33%. W. P. Carey’s payout ratio is presently 104.85%.

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.