W. P. Carey Inc. (NYSE:WPC) Receives $63.36 Consensus Price Target from Analysts

W. P. Carey Inc. (NYSE:WPC) has been assigned a consensus rating of “Reduce” from the eleven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $63.36.

Several research analysts have commented on the company. Scotiabank reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Royal Bank of Canada dropped their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Barclays started coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. Wells Fargo & Company dropped their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Finally, StockNews.com started coverage on W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating on the stock.

Hedge Funds Weigh In On W. P. Carey

Several institutional investors and hedge funds have recently modified their holdings of WPC. Cohen & Steers Inc. increased its stake in shares of W. P. Carey by 91.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after purchasing an additional 5,407,289 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in W. P. Carey by 104,493.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock worth $360,716,000 after buying an additional 4,611,275 shares in the last quarter. Norges Bank purchased a new stake in W. P. Carey during the 4th quarter worth approximately $157,107,000. JPMorgan Chase & Co. increased its stake in W. P. Carey by 46.1% during the 1st quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock worth $507,966,000 after buying an additional 2,068,458 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in W. P. Carey by 130.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock worth $136,117,000 after buying an additional 1,422,490 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.3 %

WPC opened at $53.31 on Friday. The stock’s fifty day moving average is $56.36 and its two-hundred day moving average is $58.72. The company has a market capitalization of $11.67 billion, a P/E ratio of 16.15, a PEG ratio of 0.44 and a beta of 0.86. W. P. Carey has a 52 week low of $51.36 and a 52 week high of $74.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89.

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

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.865 dividend. This represents a $3.46 annualized dividend and a dividend yield of 6.49%. The ex-dividend date was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is currently 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.