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

W. P. Carey (NYSE:WPC) issued an update on its FY24 earnings guidance on Tuesday morning. 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

WPC has been the topic of a number of research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays boosted their price target on 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. Scotiabank reduced their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Evercore ISI lifted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, UBS Group boosted their price target 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average price target of $63.25.

W. P. Carey Trading Down 1.4 %

Shares of W. P. Carey stock traded down $0.78 during trading hours on Tuesday, hitting $56.70. The company’s stock had a trading volume of 1,376,218 shares, compared to its average volume of 1,208,210. 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 stock has a market cap of $12.41 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.11 and a beta of 0.94. The firm has a fifty day moving average of $60.69 and a 200-day moving average of $58.18. W. P. Carey has a twelve month low of $51.60 and a twelve month high of $67.40.

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

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost 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%. W. P. Carey’s payout ratio is presently 133.08%.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.08% of the stock is owned by corporate insiders.

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.