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NEW YORK - W. P. Carey Inc. (NYSE:WPC), a leading net lease real estate investment trust (REIT), announced an increase in its quarterly cash dividend to $0.890 per share, reflecting an annualized rate of $3.56 per share and a robust 5.68% yield. The upcoming dividend will be distributed on April 15, 2025, to shareholders on record as of March 31, 2025. The company has maintained dividend payments for 27 consecutive years, according to InvestingPro data.
The company, known for its diversified portfolio of high-quality commercial real estate, manages 1,555 net lease properties and 78 self-storage operating properties as of December 31, 2024. These properties span approximately 176 million square feet, mainly consisting of single-tenant industrial, warehouse, and retail spaces across the U.S. and Northern and Western Europe. W. P. Carey’s strategy includes long-term net leases with built-in rent escalations to provide steady revenue streams, contributing to its impressive 92.35% gross profit margin. With a market capitalization of $13.48 billion, InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 1.14.
This dividend increase is part of W. P. Carey’s commitment to delivering value to its shareholders and reflects the company’s stable financial position. Dividends are a significant component of shareholder returns, especially for REITs, as they are required to distribute at least 90% of their taxable income to shareholders annually in the form of dividends. Currently trading near its 52-week high, detailed valuation metrics and additional insights are available through InvestingPro’s comprehensive research reports.
The information reported is based on a press release statement from W. P. Carey Inc.
In other recent news, W. P. Carey Inc. reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.21, which was below the forecasted $0.54. However, the company’s revenue of $403.65 million exceeded expectations of $385.18 million. Following the earnings announcement, analysts from Scotiabank, Evercore ISI, and BMO Capital Markets adjusted their price targets for the company. Scotiabank raised its target to $63, maintaining a Sector Perform rating, while Evercore ISI increased its target to $64, keeping an In-Line rating. BMO Capital Markets upgraded W. P. Carey to Outperform with a new price target of $67, reflecting investor confidence in the company’s strategic divestments and growth prospects. The company plans to focus on expanding its presence in U.S. retail and data centers, while divesting non-core assets like self-storage facilities. Analysts noted that W. P. Carey’s consumer price index (CPI)-linked leases provide a hedge against inflation, and the company’s ability to raise debt in Europe at lower rates is advantageous. These developments are part of W. P. Carey’s strategic initiatives to enhance its financial performance and position in the market.
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