W.P. Carey (NYSE:WPC) Given New $74.00 Price Target at JPMorgan Chase & Co.

W.P. Carey (NYSE:WPC) had its price objective reduced by JPMorgan Chase & Co. from $79.00 to $74.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Barclays upped their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “underweight” rating in a report on Wednesday, December 3rd. UBS Group increased 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 report on Friday, August 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $69.00 target price on shares of W.P. Carey in a research note on Monday. Finally, Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.60.

W.P. Carey Stock Down 0.1%

W.P. Carey stock opened at $65.07 on Tuesday. The firm has a 50 day moving average price of $67.11 and a 200-day moving average price of $65.57. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. W.P. Carey has a twelve month low of $52.91 and a twelve month high of $69.79. The company has a market capitalization of $14.26 billion, a P/E ratio of 39.44, a P/E/G ratio of 6.13 and a beta of 0.78.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The company had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $424.44 million. During the same quarter in the previous year, the firm posted $1.18 EPS. W.P. Carey’s revenue was up 8.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. As a group, equities analysts predict that W.P. Carey will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.91 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s dividend payout ratio (DPR) is currently 220.61%.

Hedge Funds Weigh In On W.P. Carey

A number of large investors have recently modified their holdings of WPC. MTM Investment Management LLC bought a new stake in W.P. Carey during the 2nd quarter worth approximately $28,000. Headlands Technologies LLC purchased a new position in shares of W.P. Carey during the 2nd quarter valued at $30,000. Wealth Watch Advisors INC bought a new position in shares of W.P. Carey in the third quarter worth $33,000. LGT Financial Advisors LLC purchased a new stake in shares of W.P. Carey in the third quarter worth $34,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of W.P. Carey in the second quarter worth $40,000. 73.73% of the stock is currently owned by 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.