W.P. Carey’s (WPC) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their hold (c) rating on shares of W.P. Carey (NYSE:WPC) in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Scotiabank increased their price target on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Friday, September 5th. UBS Group increased their price target on W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Barclays increased their price target on W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, August 20th. Evercore ISI raised their price objective on W.P. Carey from $66.00 to $70.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Royal Bank Of Canada raised their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, W.P. Carey presently has an average rating of “Hold” and a consensus price target of $67.22.

W.P. Carey Price Performance

Shares of W.P. Carey stock opened at $66.81 on Wednesday. The stock has a 50 day moving average of $66.98 and a 200 day moving average of $63.68. W.P. Carey has a 12 month low of $52.91 and a 12 month high of $69.79. The firm has a market cap of $14.63 billion, a PE ratio of 43.95, a PEG ratio of 9.70 and a beta of 0.81. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The company had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same period in the prior year, the company earned $1.17 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, research analysts expect that W.P. Carey will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is 239.47%.

Institutional Investors Weigh In On W.P. Carey

A number of institutional investors and hedge funds have recently modified their holdings of WPC. JPMorgan Chase & Co. lifted its stake in shares of W.P. Carey by 274.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock worth $322,630,000 after acquiring an additional 3,747,898 shares during the last quarter. Norges Bank bought a new stake in shares of W.P. Carey during the 2nd quarter worth approximately $151,411,000. Pacer Advisors Inc. lifted its stake in shares of W.P. Carey by 1,016.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock worth $110,564,000 after acquiring an additional 1,595,045 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of W.P. Carey by 2,712.0% during the 2nd quarter. Captrust Financial Advisors now owns 771,534 shares of the real estate investment trust’s stock worth $48,128,000 after acquiring an additional 744,097 shares during the last quarter. Finally, GRS Advisors LLC bought a new stake in shares of W.P. Carey during the 2nd quarter worth approximately $37,694,000. 73.73% of the stock is owned by institutional investors.

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.