Shares of W. P. Carey Inc. (NYSE:WPC – Get Free Report) have been given an average rating of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $63.25.
WPC has been the subject of several research reports. Scotiabank lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. UBS Group increased their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI increased their price objective 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th.
Check Out Our Latest Stock Analysis on W. P. Carey
W. P. Carey Stock Up 0.4 %
W. P. Carey (NYSE:WPC – Get Free Report) last issued its earnings results 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the company posted $1.32 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Analysts forecast that W. P. Carey will post 4.52 earnings per share for the current year.
W. P. Carey Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.32%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.
Insider Buying and Selling
In other news, Director Mark A. Alexander bought 3,500 shares of the firm’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 acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is owned by insiders.
Institutional Investors Weigh In On W. P. Carey
A number of hedge funds have recently made changes to their positions in WPC. Massmutual Trust Co. FSB ADV boosted its position in W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 172 shares during the period. Catalytic Wealth RIA LLC lifted its position in shares of W. P. Carey by 5.2% in the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 198 shares during the period. Kowal Investment Group LLC lifted its position in shares of W. P. Carey by 3.4% in the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 199 shares during the period. Harbour Investments Inc. lifted its position in shares of W. P. Carey by 5.9% in the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 203 shares during the period. Finally, Creative Planning increased its stake in shares of W. P. Carey by 0.3% in the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after acquiring an additional 207 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.
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.
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