W.P. Carey Inc. (NYSE:WPC) Increases Dividend to $0.92 Per Share

W.P. Carey Inc. (NYSE:WPC) announced a quarterly dividend on Monday, December 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.92 per share by the real estate investment trust on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Wednesday, December 31st. This is a 1.1% increase from W.P. Carey’s previous quarterly dividend of $0.91.

W.P. Carey has decreased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. W.P. Carey has a dividend payout ratio of 135.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 $3.64 annual dividend with an expected future payout ratio of 77.1%.

W.P. Carey Price Performance

Shares of W.P. Carey stock traded up $0.75 on Monday, hitting $65.76. 1,416,831 shares of the company traded hands, compared to its average volume of 1,229,751. W.P. Carey has a 52 week low of $52.91 and a 52 week high of $69.79. The business has a 50-day simple moving average of $66.92 and a 200 day simple moving average of $65.64. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $14.41 billion, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.78.

W.P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. The company had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. W.P. Carey’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Research analysts expect that W.P. Carey will post 4.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WPC. MTM Investment Management LLC bought a new position in W.P. Carey in the 2nd quarter worth about $28,000. Headlands Technologies LLC purchased a new stake in shares of W.P. Carey in the second quarter valued at approximately $30,000. Wealth Watch Advisors INC bought a new position in W.P. Carey in the third quarter worth approximately $33,000. LGT Financial Advisors LLC purchased a new position in W.P. Carey during the 3rd quarter worth $34,000. Finally, V Square Quantitative Management LLC bought a new stake in W.P. Carey during the 2nd quarter valued at $40,000. 73.73% of the stock is currently 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.