W. P. Carey (NYSE:WPC) Releases FY24 Earnings Guidance

W. P. Carey (NYSE:WPC) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $4.65-4.71 for the period, compared to the consensus estimate of $4.72.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank dropped their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. UBS Group increased their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Barclays increased their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Stock Down 1.4 %

Shares of WPC stock traded down $0.78 on Tuesday, hitting $56.70. The stock had a trading volume of 1,377,345 shares, compared to its average volume of 1,208,216. W. P. Carey has a 52-week low of $51.60 and a 52-week high of $67.40. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 1.11 and a beta of 0.94. The stock’s 50 day moving average is $60.69 and its 200-day moving average is $58.18.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same quarter last year, the company earned $1.36 earnings per share. The company’s revenue was down 13.9% compared to the same quarter last year. As a group, research analysts expect that W. P. Carey will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.08% of the company’s stock.

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.