Brokerages Set W. P. Carey Inc. (NYSE:WPC) Target Price at $62.88

Shares of W. P. Carey Inc. (NYSE:WPC) have been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $62.88.

WPC has been the subject of a number of research reports. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Evercore ISI upped their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Barclays boosted their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th.

Hedge Funds Weigh In On W. P. Carey

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its position in shares of W. P. Carey by 247.3% in the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after buying an additional 8,843 shares during the period. SG Americas Securities LLC grew its stake in W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after acquiring an additional 46,181 shares in the last quarter. Equity Investment Corp increased its holdings in shares of W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after purchasing an additional 9,610 shares during the period. EverSource Wealth Advisors LLC increased its stake in W. P. Carey by 69.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after buying an additional 9,353 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of W. P. Carey by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after acquiring an additional 9,619 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of WPC opened at $57.54 on Friday. W. P. Carey has a 12 month low of $53.09 and a 12 month high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a fifty day moving average price of $58.70 and a 200 day moving average price of $58.21. The company has a market cap of $12.59 billion, a P/E ratio of 22.38, a PEG ratio of 1.07 and a beta of 0.95.

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). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the company posted $1.32 EPS. On average, research analysts forecast that W. P. Carey will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.08%. The ex-dividend date was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 137.80%.

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.