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 $4.63-4.73 for the period, compared to the consensus estimate of $4.73.

W. P. Carey Stock Down 0.2 %

Shares of NYSE WPC traded down $0.11 during mid-day trading on Tuesday, hitting $60.80. The company had a trading volume of 1,255,574 shares, compared to its average volume of 1,297,207. The company has a market capitalization of $13.30 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93. The business’s 50-day simple moving average is $56.78 and its 200 day simple moving average is $57.58. W. P. Carey has a 1-year low of $51.36 and a 1-year high of $68.70. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.87 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 5.72%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WPC shares. JMP Securities restated a market perform rating on shares of W. P. Carey in a research note on Friday, June 21st. UBS Group raised their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a neutral rating in a research report on Thursday, July 18th. Wells Fargo & Company lowered their price target on W. P. Carey from $61.00 to $60.00 and set an equal weight rating for the company in a report on Thursday, May 30th. Scotiabank raised their price objective on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a sector perform rating in a report on Thursday, May 16th. Finally, JPMorgan Chase & Co. reduced 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, W. P. Carey has a consensus rating of Hold and an average price target of $61.00.

W. P. Carey Company Profile

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.