W. P. Carey Inc. (NYSE:WPC) Plans Quarterly Dividend of $0.88

W. P. Carey Inc. (NYSE:WPC) declared a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Investors of record on Monday, September 30th will be given a dividend of 0.875 per share by the real estate investment trust on Tuesday, October 15th. This represents a $3.50 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87.

W. P. Carey has decreased its dividend by an average of 0.9% per year over the last three years. W. P. Carey has a payout ratio of 157.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect W. P. Carey to earn $4.63 per share next year, which means the company should continue to be able to cover its $3.50 annual dividend with an expected future payout ratio of 75.6%.

W. P. Carey Trading Down 0.2 %

Shares of NYSE:WPC opened at $62.74 on Friday. The business’s 50 day simple moving average is $59.92 and its 200 day simple moving average is $57.60. W. P. Carey has a 1 year low of $51.36 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market capitalization of $13.73 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.18 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the previous year, the firm posted $1.36 earnings per share. W. P. Carey’s quarterly revenue was down 13.9% compared to the same quarter last year. On average, research analysts anticipate that W. P. Carey will post 4.52 EPS for the current fiscal year.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction on Friday, August 9th. The shares were purchased 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 owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WPC shares. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Evercore ISI increased their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Scotiabank decreased their target price on shares of 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. UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.13.

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.