W. P. Carey (NYSE:WPC) Rating Reiterated by Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of W. P. Carey (NYSE:WPC) in a report released on Tuesday morning, Benzinga reports. They currently have a $63.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $62.00.

WPC has been the subject of several other research reports. Evercore ISI upped their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an in-line rating in a research report on Monday, September 16th. JMP Securities reiterated a market perform rating on shares of W. P. Carey in a research report on Friday, June 21st. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an outperform rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. reduced their target price on W. P. Carey from $70.00 to $68.00 and set an overweight rating on the stock in a report on Friday, July 12th. Finally, Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a sector perform rating on the stock in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of Hold and an average target price of $61.25.

W. P. Carey Stock Down 0.1 %

Shares of WPC opened at $61.01 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey has a 12 month low of $51.36 and a 12 month high of $67.40. The firm’s 50 day moving average is $60.08 and its 200-day moving average is $57.72. The stock has a market capitalization of $13.35 billion, a PE ratio of 23.20, a P/E/G ratio of 1.18 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The company had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. W. P. Carey’s revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. Equities research analysts forecast that W. P. Carey will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. The ex-dividend date is Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 5.74%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

Insiders Place Their Bets

In related news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the purchase, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV grew its stake in W. P. Carey by 35.9% during the third 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 during the period. Catalytic Wealth RIA LLC increased its stake in shares of W. P. Carey by 5.2% in the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 198 shares in the last quarter. Kowal Investment Group LLC lifted its position in shares of W. P. Carey by 3.4% during the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 199 shares during the period. HB Wealth Management LLC boosted its stake in W. P. Carey by 6.2% during the first quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 208 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in W. P. Carey by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 209 shares during the period. 73.73% of the stock is owned by institutional investors.

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.