W. P. Carey Inc. (NYSE:WPC) Receives Consensus Recommendation of “Hold” from Brokerages

W. P. Carey Inc. (NYSE:WPC) has been assigned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $63.25.

Several analysts have weighed in on WPC shares. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Monday, December 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group reduced their price target 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. Evercore ISI boosted their price objective 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. Finally, Barclays reissued an “underweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th.

Institutional Trading of W. P. Carey

Several large investors have recently added to or reduced their stakes in WPC. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 35.9% in the 3rd 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 in the last quarter. Catalytic Wealth RIA LLC raised its stake in W. P. Carey by 5.2% in the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 198 shares in the last quarter. Kowal Investment Group LLC lifted its holdings in 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 buying an additional 199 shares during the period. Harbour Investments Inc. boosted its position in W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after acquiring an additional 203 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 207 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $55.08 on Wednesday. The stock’s 50-day moving average is $56.48 and its 200 day moving average is $57.94. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 1.04 and a beta of 0.96. W. P. Carey has a 1-year low of $53.09 and a 1-year high of $67.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last posted 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). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period last year, the business posted $1.32 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that W. P. Carey will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.39%. W. P. Carey’s payout ratio is 138.58%.

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.