W.P. Carey Inc. (NYSE:WPC) Raises Dividend to $0.95 Per Share

W.P. Carey Inc. (NYSE:WPC) announced a quarterly dividend on Friday, September 18th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.95 per share by the real estate investment trust on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 1.1% increase from W.P. Carey’s previous quarterly dividend of $0.94.

W.P. Carey has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. W.P. Carey has a dividend payout ratio of 139.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect W.P. Carey to earn $5.27 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 71.3%.

W.P. Carey Trading Down 0.4%

WPC traded down $0.29 during trading on Friday, hitting $66.23. The company’s stock had a trading volume of 4,054,568 shares, compared to its average volume of 1,390,003. The firm has a market capitalization of $15.09 billion, a P/E ratio of 22.60, a PEG ratio of 3.31 and a beta of 0.75. W.P. Carey has a twelve month low of $63.08 and a twelve month high of $77.22. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The stock’s fifty day moving average price is $71.82 and its 200-day moving average price is $72.19.

About W.P. Carey

W.P. Carey Inc (NYSE: WPC) is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.