Fintel reports that on September 28, 2023, Scotiabank maintained coverage of W. P. Carey (NYSE:WPC) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 40.65% Upside
As of August 31, 2023, the average one-year price target for W. P. Carey is 76.91. The forecasts range from a low of 67.67 to a high of $86.10. The average price target represents an increase of 40.65% from its latest reported closing price of 54.68.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for W. P. Carey is 1,608MM, a decrease of 3.30%. The projected annual non-GAAP EPS is 4.08.
W. P. Carey Declares $1.07 Dividend
On September 14, 2023 the company declared a regular quarterly dividend of $1.07 per share ($4.28 annualized). Shareholders of record as of September 29, 2023 will receive the payment on October 16, 2023. Previously, the company paid $1.07 per share.
At the current share price of $54.68 / share, the stock's dividend yield is 7.83%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.63%, the lowest has been 4.45%, and the highest has been 9.48%. The standard deviation of yields is 0.64 (n=236).
The current dividend yield is 3.43 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1186 funds or institutions reporting positions in W. P. Carey. This is a decrease of 60 owner(s) or 4.82% in the last quarter. Average portfolio weight of all funds dedicated to WPC is 0.22%, a decrease of 40.72%. Total shares owned by institutions decreased in the last three months by 1.92% to 142,637K shares. 
The put/call ratio of WPC is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 9,143K shares representing 4.27% ownership of the company. In it's prior filing, the firm reported owning 8,602K shares, representing an increase of 5.92%. The firm increased its portfolio allocation in WPC by 2.18% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,675K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 6,513K shares, representing an increase of 2.42%. The firm decreased its portfolio allocation in WPC by 17.52% over the last quarter.
Jpmorgan Chase holds 6,203K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 6,559K shares, representing a decrease of 5.73%. The firm increased its portfolio allocation in WPC by 486.11% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 4,958K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 4,919K shares, representing an increase of 0.77%. The firm decreased its portfolio allocation in WPC by 15.61% over the last quarter.
Geode Capital Management holds 3,387K shares representing 1.58% ownership of the company. In it's prior filing, the firm reported owning 3,260K shares, representing an increase of 3.75%. The firm decreased its portfolio allocation in WPC by 18.00% over the last quarter.
W. P. Carey Background Information
(This description is provided by the company.)
W. P. Carey is one of the largest diversified net lease REITs, specializing in the acquisition of operationally critical, single-tenant properties in North America and Europe.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
