W. P. Carey’s (WPC) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of W. P. Carey (NYSE:WPC) in a research report released on Monday,Benzinga reports.

Several other research firms also recently weighed in on WPC. Evercore ISI increased their price target 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group cut their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Barclays upped their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.25.

W. P. Carey Price Performance

NYSE WPC opened at $54.21 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day moving average of $57.02 and a 200 day moving average of $58.03. W. P. Carey has a one year low of $53.09 and a one year high of $67.40. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. On average, sell-side analysts forecast that W. P. Carey will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.49%. W. P. Carey’s dividend payout ratio is currently 138.58%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of W. P. Carey by 249.1% in the 2nd quarter. Blue Trust Inc. now owns 946 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 675 shares during the period. Raymond James & Associates boosted its stake in W. P. Carey by 23.6% during the second quarter. Raymond James & Associates now owns 360,517 shares of the real estate investment trust’s stock worth $19,846,000 after buying an additional 68,886 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of W. P. Carey in the second quarter valued at $346,000. Dupree Financial Group LLC raised its stake in shares of W. P. Carey by 2.3% in the second quarter. Dupree Financial Group LLC now owns 98,364 shares of the real estate investment trust’s stock valued at $5,415,000 after acquiring an additional 2,195 shares during the period. Finally, Griffin Asset Management Inc. lifted its holdings in shares of W. P. Carey by 12.8% in the 2nd quarter. Griffin Asset Management Inc. now owns 29,117 shares of the real estate investment trust’s stock worth $1,603,000 after acquiring an additional 3,307 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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.