W.P. Carey (NYSE:WPC) Hits New 52-Week High – Should You Buy?

W.P. Carey Inc. (NYSE:WPC) hit a new 52-week high on Friday . The company traded as high as $70.02 and last traded at $70.0150, with a volume of 723609 shares changing hands. The stock had previously closed at $68.92.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WPC shares. Barclays set a $65.00 price target on shares of W.P. Carey in a research report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Evercore ISI lowered their price target on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a research note on Monday, December 15th. Citigroup upped their price target on shares of W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Royal Bank Of Canada lifted their price objective on W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.45.

W.P. Carey Stock Up 1.8%

The firm has a market cap of $15.38 billion, a PE ratio of 42.54, a PEG ratio of 5.79 and a beta of 0.79. 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 company’s 50-day simple moving average is $66.10 and its two-hundred day simple moving average is $66.00.

W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $431.30 million for 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%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. W.P. Carey’s dividend payout ratio is currently 223.03%.

Hedge Funds Weigh In On W.P. Carey

Several hedge funds have recently made changes to their positions in WPC. Olistico Wealth LLC purchased a new stake in W.P. Carey in the fourth quarter worth $28,000. MTM Investment Management LLC bought a new stake in shares of W.P. Carey during the 2nd quarter valued at about $28,000. Headlands Technologies LLC purchased a new position in shares of W.P. Carey during the second quarter valued at about $30,000. Wealth Watch Advisors INC purchased a new position in shares of W.P. Carey during the third quarter valued at about $33,000. Finally, LGT Financial Advisors LLC bought a new position in W.P. Carey in the third quarter worth about $34,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

About W.P. Carey

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.