W.P. Carey (NYSE:WPC) Price Target Raised to $66.00

W.P. Carey (NYSE:WPC) had its price target raised by Evercore ISI from $65.00 to $66.00 in a report published on Wednesday,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on the stock. Barclays set a $61.00 target price on shares of W.P. Carey and gave the stock an “underweight” rating in a research note on Wednesday, May 21st. Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Scotiabank lifted their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price for the company in a research note on Monday, June 9th. Finally, BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a “neutral” rating in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, W.P. Carey has a consensus rating of “Hold” and a consensus target price of $100.60.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $63.00 on Wednesday. The firm has a market cap of $13.79 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 7.04 and a beta of 0.78. The firm’s fifty day moving average is $62.26 and its 200-day moving average is $59.95. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. W.P. Carey has a 52 week low of $52.91 and a 52 week high of $66.10.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. W.P. Carey’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. Sell-side analysts predict that W.P. Carey will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.90 dividend. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a yield of 5.71%. The ex-dividend date is Monday, June 30th. W.P. Carey’s payout ratio is 185.57%.

Institutional Investors Weigh In On W.P. Carey

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC increased its stake in W.P. Carey by 29.8% in the first quarter. Voya Investment Management LLC now owns 36,294 shares of the real estate investment trust’s stock valued at $2,291,000 after purchasing an additional 8,339 shares in the last quarter. Inspire Investing LLC increased its stake in W.P. Carey by 2.3% in the first quarter. Inspire Investing LLC now owns 24,482 shares of the real estate investment trust’s stock valued at $1,545,000 after purchasing an additional 547 shares in the last quarter. Invst LLC bought a new stake in W.P. Carey in the first quarter valued at $734,000. Modern Wealth Management LLC increased its stake in W.P. Carey by 29.6% in the first quarter. Modern Wealth Management LLC now owns 9,167 shares of the real estate investment trust’s stock valued at $578,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Strs Ohio bought a new stake in W.P. Carey in the first quarter valued at $7,561,000. 73.73% of the stock is 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.