W. P. Carey (NYSE:WPC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.630-4.730 for the period, compared to the consensus estimate of 4.730. The company issued revenue guidance of -. W. P. Carey also updated its FY24 guidance to $4.63-4.73 EPS.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of W. P. Carey from $70.00 to $68.00 and set an overweight rating for the company in a report on Friday, July 12th. UBS Group upped their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a neutral rating in a report on Thursday, July 18th. JMP Securities reissued a market perform rating on shares of W. P. Carey in a report on Friday, June 21st. Scotiabank increased their price objective on shares of W. P. Carey from $55.00 to $60.00 and gave the company a sector perform rating in a report on Thursday, May 16th. Finally, Wells Fargo & Company dropped their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $61.00.
Read Our Latest Stock Analysis on WPC
W. P. Carey Price Performance
W. P. Carey Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 5.72%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, June 28th. W. P. Carey’s dividend payout ratio is currently 132.32%.
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.
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