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

W.P. Carey Inc. (NYSE:WPC) declared a quarterly dividend on Thursday, June 12th, RTT News reports. Investors of record on Monday, June 30th will be paid 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 5.73%. 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 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 Price Performance

Shares of NYSE:WPC opened at $62.82 on Friday. The company’s 50-day moving average is $62.09 and its 200 day moving average is $59.72. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $13.76 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 7.01 and a beta of 0.80. W.P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm had revenue of $407.44 million for the quarter, compared to analysts’ expectations of $412.99 million. During the same period in the prior year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that W.P. Carey will post 4.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Scotiabank upped their price target on W.P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Royal Bank Of Canada upped their price target on W.P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. BNP Paribas Exane upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price on the stock in a research report on Monday, June 9th. Wells Fargo & Company increased their target price on W.P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a “neutral” rating in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $100.40.

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.