W. P. Carey Inc. (NYSE:WPC) Increases Dividend to $0.89 Per Share

W. P. Carey Inc. (NYSE:WPC) declared a quarterly dividend on Thursday, March 13th, RTT News reports. Stockholders of record on Monday, March 31st will be given 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 dividend yield of 5.68%. The ex-dividend date of this dividend 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% per year over the last three years. W. P. Carey has a dividend payout ratio of 129.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 $3.56 annual dividend with an expected future payout ratio of 75.4%.

W. P. Carey Stock Up 0.4 %

W. P. Carey stock opened at $62.67 on Friday. W. P. Carey has a one year low of $52.91 and a one year high of $66.10. The stock has a fifty day moving average of $60.04 and a 200 day moving average of $58.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $13.71 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

Analyst Ratings Changes

WPC has been the subject of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Royal Bank of Canada upped their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Barclays lifted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Scotiabank boosted their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target 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.