W. P. Carey Inc. (NYSE:WPC) Receives $86.00 Average Price Target from Analysts

Shares of W. P. Carey Inc. (NYSE:WPC) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $86.00.

A number of analysts have recently issued reports on WPC shares. Wells Fargo & Company raised their target price on shares of W. P. Carey from $77.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 23rd. JPMorgan Chase & Co. upgraded shares of W. P. Carey from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $77.00 to $88.00 in a research note on Tuesday, June 15th. Evercore ISI upgraded shares of W. P. Carey from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $77.00 to $80.00 in a research note on Monday, May 3rd. Zacks Investment Research upgraded shares of W. P. Carey from a “sell” rating to a “hold” rating in a research note on Tuesday, April 13th. Finally, Bank of America restated an “underperform” rating on shares of W. P. Carey in a research note on Tuesday, April 13th.

A number of large investors have recently added to or reduced their stakes in the stock. Brown Advisory Securities LLC increased its position in W. P. Carey by 3.3% during the fourth quarter. Brown Advisory Securities LLC now owns 4,685 shares of the real estate investment trust’s stock worth $331,000 after acquiring an additional 150 shares during the period. GPS Wealth Strategies Group LLC increased its holdings in W. P. Carey by 3.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 5,144 shares of the real estate investment trust’s stock valued at $364,000 after buying an additional 159 shares during the period. CIBC Asset Management Inc increased its holdings in W. P. Carey by 2.6% in the 1st quarter. CIBC Asset Management Inc now owns 6,639 shares of the real estate investment trust’s stock valued at $470,000 after buying an additional 169 shares during the period. Optimum Investment Advisors increased its holdings in W. P. Carey by 3.4% in the 1st quarter. Optimum Investment Advisors now owns 5,170 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 170 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its holdings in W. P. Carey by 6.1% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 3,537 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 202 shares during the period. 55.78% of the stock is currently owned by institutional investors and hedge funds.

WPC stock traded down $0.37 during trading hours on Friday, reaching $78.49. The stock had a trading volume of 4,919 shares, compared to its average volume of 873,088. The company has a market capitalization of $14.10 billion, a PE ratio of 31.42 and a beta of 0.73. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average is $76.55. W. P. Carey has a fifty-two week low of $60.68 and a fifty-two week high of $79.92.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Thursday, April 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.43). The firm had revenue of $306.17 million during the quarter, compared to analyst estimates of $307.61 million. W. P. Carey had a net margin of 36.39% and a return on equity of 6.42%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. As a group, sell-side analysts predict that W. P. Carey will post 4.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 5.35%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.05. The ex-dividend date was Tuesday, June 29th. W. P. Carey’s dividend payout ratio (DPR) is currently 88.61%.

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.

See Also: Asset Allocation Models, Which is Right For You?

Analyst Recommendations for W. P. Carey (NYSE:WPC)

Receive News & Ratings for W. P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.