W.P. Carey Inc. (NYSE:WPC) has received a consensus recommendation of “Hold” from the eight analysts that are covering the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $68.17.
Several brokerages have recently weighed in on WPC. Zacks Investment Research cut shares of W.P. Carey from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Co. reiterated a “hold” rating on shares of W.P. Carey in a research note on Sunday, September 25th. BMO Capital Markets reiterated a “buy” rating and issued a $81.00 price objective on shares of W.P. Carey in a research note on Friday, September 23rd. Finally, Citigroup Inc. increased their price objective on shares of W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a research note on Thursday, July 7th.
A number of large investors have recently added to or reduced their stakes in WPC. CIBC World Markets Inc. raised its stake in W.P. Carey by 33.9% in the first quarter. CIBC World Markets Inc. now owns 4,994 shares of the company’s stock valued at $311,000 after buying an additional 1,264 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of W.P. Carey during the first quarter worth about $829,000. TIAA CREF Investment Management LLC raised its stake in shares of W.P. Carey by 1.9% in the first quarter. TIAA CREF Investment Management LLC now owns 176,940 shares of the company’s stock worth $11,013,000 after buying an additional 3,230 shares during the period. BlackRock Inc. raised its stake in shares of W.P. Carey by 18.0% in the first quarter. BlackRock Inc. now owns 93,034 shares of the company’s stock worth $5,791,000 after buying an additional 14,162 shares during the period. Finally, BlackRock Group LTD raised its stake in shares of W.P. Carey by 0.9% in the first quarter. BlackRock Group LTD now owns 604,266 shares of the company’s stock worth $37,610,000 after buying an additional 5,335 shares during the period. 47.84% of the stock is owned by institutional investors.
Shares of W.P. Carey (NYSE:WPC) opened at 61.80 on Friday. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 36.35 and a beta of 0.87. W.P. Carey has a 12 month low of $51.12 and a 12 month high of $72.89. The firm’s 50-day moving average is $64.86 and its 200 day moving average is $65.74.
W.P. Carey (NYSE:WPC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.65. W.P. Carey had a net margin of 19.50% and a return on equity of 5.13%. The firm had revenue of $198.80 million for the quarter, compared to analysts’ expectations of $184.64 million. During the same quarter in the prior year, the business earned $1.31 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts expect that W.P. Carey will post $2.20 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, October 3rd were issued a $0.985 dividend. This represents a $3.94 annualized dividend and a yield of 6.38%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, September 29th. W.P. Carey’s dividend payout ratio is currently 231.76%.
About W.P. Carey
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.
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