W. P. Carey (NYSE:WPC) Given New $63.00 Price Target at UBS Group

W. P. Carey (NYSE:WPC) had its target price trimmed by UBS Group from $66.00 to $63.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on WPC. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Wells Fargo & Company increased their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank increased their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Barclays increased their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus price target of $108.88.

W. P. Carey Trading Down 1.6%

W. P. Carey stock opened at $60.06 on Tuesday. W. P. Carey has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $61.13 and a two-hundred day moving average price of $58.30. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The company had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that W. P. Carey will post 4.87 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.93%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 183.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its position in W. P. Carey by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust’s stock valued at $170,198,000 after buying an additional 55,615 shares during the last quarter. Summit Securities Group LLC boosted its position in W. P. Carey by 60.0% in the 1st quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 300 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of W. P. Carey in the 1st quarter valued at $372,000. Raymond James Financial Inc. lifted its stake in shares of W. P. Carey by 1.5% in the 1st quarter. Raymond James Financial Inc. now owns 585,621 shares of the real estate investment trust’s stock valued at $36,959,000 after purchasing an additional 8,482 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of W. P. Carey by 10.2% in the 1st quarter. American Century Companies Inc. now owns 72,070 shares of the real estate investment trust’s stock valued at $4,548,000 after purchasing an additional 6,685 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Company Profile

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.