According to Zacks, “W. P. Carey Inc. is a real estate investment trust engaged in providing long-term sale-leaseback and build-to-suit financing for companies. The firm primarily invests in commercial properties that are generally triple-net leased to single corporate tenants including office, warehouse, industrial, logistics, retail, hotel, R&D, and self-storage properties. W. P. Carey Inc., formerly known as W. P. Carey & Co. LLC, is based in New York. “
A number of other analysts also recently weighed in on the stock. Wells Fargo & Co. reiterated a hold rating on shares of W.P. Carey in a research report on Sunday, September 25th. BMO Capital Markets reiterated a buy rating and issued a $81.00 price target on shares of W.P. Carey in a research report on Friday, September 23rd. Finally, Citigroup Inc. increased their price target on shares of W.P. Carey from $54.00 to $59.00 and gave the company a sell rating in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. W.P. Carey currently has an average rating of Hold and an average target price of $71.63.
W.P. Carey (NYSE:WPC) traded down 0.08% during mid-day trading on Thursday, reaching $62.40. 106,971 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $65.00 and a 200-day moving average price of $65.74. The stock has a market cap of $6.60 billion, a P/E ratio of 36.71 and a beta of 0.87. W.P. Carey has a 1-year low of $51.12 and a 1-year high of $72.89.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.65. The business had revenue of $198.80 million for the quarter, compared to the consensus estimate of $184.64 million. W.P. Carey had a net margin of 19.50% and a return on equity of 5.13%. W.P. Carey’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS. Equities research analysts anticipate that W.P. Carey will post $2.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.985 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.98. This represents a $3.94 annualized dividend and a yield of 6.31%. The ex-dividend date is Thursday, September 29th. W.P. Carey’s dividend payout ratio (DPR) is 231.76%.
A number of hedge funds have recently made changes to their positions in the company. AllSquare Wealth Management LLC boosted its position in shares of W.P. Carey by 11.1% in the second quarter. AllSquare Wealth Management LLC now owns 2,000 shares of the company’s stock valued at $139,000 after buying an additional 200 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of W.P. Carey by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 2,458 shares of the company’s stock valued at $171,000 after buying an additional 80 shares in the last quarter. Logan Capital Management Inc. acquired a new position in shares of W.P. Carey during the second quarter valued at $201,000. Carret Asset Management LLC acquired a new position in shares of W.P. Carey during the second quarter valued at $206,000. Finally, Kempner Capital Management Inc. acquired a new position in shares of W.P. Carey during the second quarter valued at $208,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.
W.P. Carey Company Profile
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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