W. P. Carey (NYSE:WPC) Given “Market Perform” Rating at JMP Securities

JMP Securities restated their market perform rating on shares of W. P. Carey (NYSE:WPC) in a research note issued to investors on Friday morning,Benzinga reports.

WPC has been the topic of several other reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Barclays reissued an “underweight” rating and set a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Finally, Evercore ISI boosted their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.57.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $53.93 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The stock’s 50-day moving average is $55.65 and its 200-day moving average is $57.83. W. P. Carey has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the previous year, the firm posted $1.32 EPS. The company’s revenue was down 11.9% on a year-over-year basis. Equities analysts predict that W. P. Carey will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Tuesday, December 31st. W. P. Carey’s payout ratio is currently 138.58%.

Institutional Trading of W. P. Carey

A number of hedge funds have recently modified their holdings of the stock. Quarry LP lifted its position in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares during the last quarter. Maia Wealth LLC bought a new position in shares of W. P. Carey during the third quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV lifted its holdings in W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.