W. P. Carey (NYSE:WPC) Given New $60.00 Price Target at UBS Group

W. P. Carey (NYSE:WPC) had its price target trimmed by UBS Group from $62.00 to $60.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. 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 on the stock in a research note on Thursday, August 1st. Barclays increased their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Scotiabank reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Evercore ISI increased their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Stock Performance

WPC traded up $1.01 during midday trading on Thursday, hitting $55.86. 779,177 shares of the company traded hands, compared to its average volume of 1,211,546. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $12.22 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The company’s 50-day moving average is $59.63 and its 200 day moving average is $58.19. W. P. Carey has a 52 week low of $53.09 and a 52 week high of $67.40.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 EPS. On average, research analysts expect that W. P. Carey will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Institutional Investors Weigh In On W. P. Carey

A number of institutional investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares during the last quarter. Quarry LP boosted its position in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of W. P. Carey during the 2nd quarter valued at approximately $34,000. Finally, Maia Wealth LLC bought a new position in shares of W. P. Carey during the 3rd quarter valued at approximately $40,000. 73.73% of the stock is owned by hedge funds and other 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.