W. P. Carey Inc. (WPC) To Go Ex-Dividend on March 31st

W. P. Carey Inc. (NYSE:WPC) announced a quarterly dividend on Thursday, March 13th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.89 per share by the real estate investment trust on Tuesday, April 15th. This represents a $3.56 annualized dividend and a yield of 5.68%. The ex-dividend date is Monday, March 31st. This is a 1.1% increase from W. P. Carey’s previous quarterly dividend of $0.88.

W. P. Carey has decreased its dividend by an average of 6.0% per year over the last three years. W. P. Carey has a dividend payout ratio of 129.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Performance

W. P. Carey stock opened at $62.67 on Friday. W. P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $13.71 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The firm’s fifty day moving average price is $60.04 and its 200-day moving average price is $58.44.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays lifted their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Scotiabank lifted their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.75.

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.