Shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) hit a new 52-week low during trading on Friday after JMP Securities lowered their price target on the stock from $86.00 to $80.00. The stock traded as low as $66.46 and last traded at $66.55, with a volume of 361640 shares. The stock had previously closed at $67.64.
WPC has been the subject of several other research reports. StockNews.com started coverage on shares of W. P. Carey in a report on Thursday, May 18th. They set a “hold” rating for the company. BNP Paribas began coverage on shares of W. P. Carey in a report on Wednesday, June 14th. They issued an “underperform” rating and a $74.00 price objective for the company. Finally, 92 Resources reissued a “maintains” rating on shares of W. P. Carey in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.67.
Insider Transactions at W. P. Carey
In other news, Director Mark A. Alexander purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was bought at an average price of $72.48 per share, with a total value of $72,480.00. Following the acquisition, the director now owns 26,118 shares in the company, valued at approximately $1,893,032.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is currently owned by insiders.
Hedge Funds Weigh In On W. P. Carey
Institutional investors have recently added to or reduced their stakes in the stock. SouthState Corp increased its position in W. P. Carey by 6.7% in the 4th quarter. SouthState Corp now owns 1,928 shares of the real estate investment trust’s stock valued at $151,000 after acquiring an additional 121 shares during the period. Capital Analysts LLC increased its position in W. P. Carey by 18.6% in the 4th quarter. Capital Analysts LLC now owns 829 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 130 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of W. P. Carey by 20.6% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 134 shares during the period. Main Street Financial Solutions LLC increased its position in shares of W. P. Carey by 3.0% during the fourth quarter. Main Street Financial Solutions LLC now owns 4,899 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 141 shares during the period. Finally, Arbor Capital Management Inc. ADV increased its position in shares of W. P. Carey by 1.5% during the first quarter. Arbor Capital Management Inc. ADV now owns 9,465 shares of the real estate investment trust’s stock worth $706,000 after buying an additional 143 shares during the period. 63.11% of the stock is currently owned by institutional investors and hedge funds.
W. P. Carey Stock Performance
The company has a debt-to-equity ratio of 0.81, a current ratio of 0.11 and a quick ratio of 0.11. The company’s 50-day moving average price is $70.81 and its two-hundred day moving average price is $76.98. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 8.82 and a beta of 0.77.
W. P. Carey (NYSE:WPC – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The real estate investment trust reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.12. W. P. Carey had a net margin of 47.26% and a return on equity of 8.47%. The company had revenue of $427.80 million during the quarter, compared to analysts’ expectations of $406.24 million. During the same period in the prior year, the company posted $1.35 earnings per share. W. P. Carey’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, equities research analysts anticipate that W. P. Carey Inc. will post 5.18 EPS for the current fiscal year.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $1.069 per share. The ex-dividend date is Thursday, June 29th. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. This represents a $4.28 annualized dividend and a dividend yield of 6.43%. W. P. Carey’s dividend payout ratio is 119.94%.
About W. P. Carey
Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $24 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,449 net lease properties covering approximately 176 million square feet and a portfolio of 84 self-storage operating properties, as of December 31, 2022.