W.P. Carey (NYSE:WPC) Price Target Raised to $67.00

W.P. Carey (NYSE:WPC) had its target price lifted by Scotiabank from $64.00 to $67.00 in a research report sent to investors on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on WPC. BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a “neutral” rating in a research report on Monday, June 9th. UBS Group lifted their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Barclays upped their price target on shares of 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 lifted their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Finally, BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price on the stock in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, W.P. Carey currently has an average rating of “Hold” and a consensus price target of $66.33.

W.P. Carey Price Performance

WPC opened at $68.07 on Friday. W.P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $68.28. The firm has a 50-day moving average of $64.57 and a 200 day moving average of $62.85. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $14.91 billion, a P/E ratio of 44.79, a PEG ratio of 9.97 and a beta of 0.82.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company’s revenue for the quarter 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 year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.90 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.3%. W.P. Carey’s dividend payout ratio (DPR) is presently 236.84%.

Hedge Funds Weigh In On W.P. Carey

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPC. IAG Wealth Partners LLC raised its holdings in shares of W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 163 shares in the last quarter. GF Fund Management CO. LTD. increased its position in shares of W.P. Carey by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 168 shares during the last quarter. Griffin Asset Management Inc. raised its stake in W.P. Carey by 0.6% in the second quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock valued at $2,011,000 after purchasing an additional 178 shares in the last quarter. BridgePort Financial Solutions LLC raised its stake in W.P. Carey by 0.6% in the second quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock valued at $1,789,000 after purchasing an additional 180 shares in the last quarter. Finally, Cooper Financial Group lifted its position in W.P. Carey by 1.5% during the second quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 181 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other 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.