W. P. Carey Inc. (NYSE:WPC) Receives Average Rating of “Moderate Buy” from Brokerages
Shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $89.20.
WPC has been the subject of several research reports. Wolfe Research initiated coverage on shares of W. P. Carey in a research report on Monday, June 27th. They set a “market perform” rating and a $88.00 price objective for the company. StockNews.com downgraded shares of W. P. Carey from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. JMP Securities initiated coverage on shares of W. P. Carey in a research report on Tuesday, May 10th. They set an “outperform” rating and a $87.00 price objective for the company. Evercore ISI set a $89.00 price objective on shares of W. P. Carey in a research report on Monday, June 20th. Finally, Raymond James raised their price objective on shares of W. P. Carey from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 8th.
Institutional Inflows and Outflows
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Institutional investors have recently added to or reduced their stakes in the company. Outfitter Financial LLC acquired a new position in W. P. Carey during the fourth quarter valued at approximately $25,000. Fairfield Bush & CO. acquired a new position in W. P. Carey during the first quarter valued at approximately $26,000. Acadian Asset Management LLC acquired a new position in W. P. Carey during the first quarter valued at approximately $26,000. Quent Capital LLC acquired a new position in W. P. Carey during the first quarter valued at approximately $32,000. Finally, Gibson Wealth Advisors LLC acquired a new position in W. P. Carey during the fourth quarter valued at approximately $36,000. 58.86% of the stock is currently owned by institutional investors and hedge funds.
W. P. Carey Price Performance
Shares of NYSE WPC opened at $83.99 on Wednesday. W. P. Carey has a fifty-two week low of $73.02 and a fifty-two week high of $87.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 9.02 and a beta of 0.66. The business has a 50-day moving average of $83.05 and a 200-day moving average of $80.63.
W. P. Carey (NYSE:WPC – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The real estate investment trust reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.39. W. P. Carey had a return on equity of 6.88% and a net margin of 37.65%. The business had revenue of $344.10 million during the quarter, compared to analysts’ expectations of $340.96 million. During the same quarter last year, the company posted $1.22 earnings per share. W. P. Carey’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts predict that W. P. Carey will post 5.08 earnings per share for the current fiscal year.
W. P. Carey Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $1.059 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.04%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Wednesday, June 29th. W. P. Carey’s payout ratio is presently 153.62%.
W. P. Carey Company Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.
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