W. P. Carey Inc. (WPC) To Go Ex-Dividend on June 30th

W. P. Carey Inc. (NYSE:WPC) announced a quarterly dividend on Thursday, June 12th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 0.90 per share by the real estate investment trust on Tuesday, July 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Monday, June 30th. This is a 1.1% increase from W. P. Carey’s previous quarterly dividend of $0.89.

W. P. Carey has a dividend payout ratio of 132.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect W. P. Carey to earn $4.72 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 75.4%.

W. P. Carey Trading Down 0.1%

W. P. Carey stock opened at $63.29 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey has a 52 week low of $52.91 and a 52 week high of $66.10. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80. The stock has a 50-day moving average price of $61.28 and a 200 day moving average price of $59.23.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The company had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that W. P. Carey will post 4.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WPC shares. Barclays set a $61.00 price target on W. P. Carey and gave the company an “underweight” rating in a report on Wednesday, May 21st. Wells Fargo & Company upped their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Scotiabank upped their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. UBS Group reduced their target price on W. P. Carey from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, BNP Paribas Exane raised W. P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price for the company in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.40.

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.