A number of other analysts have also recently commented on WPC. BMO Capital Markets reiterated a hold rating on shares of W.P. Carey in a research note on Thursday, June 23rd. 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 note on Thursday, July 7th. Finally, Zacks Investment Research cut shares of W.P. Carey from a strong-buy rating to a hold rating in a research note on Tuesday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $71.63.
W.P. Carey (NYSE:WPC) opened at 67.07 on Friday. The firm has a 50-day moving average of $66.79 and a 200-day moving average of $65.46. W.P. Carey has a 52-week low of $51.12 and a 52-week high of $72.89. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 39.45 and a beta of 0.92.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.65. The firm earned $198.80 million during the quarter, compared to analysts’ expectations of $184.64 million. W.P. Carey had a net margin of 19.50% and a return on equity of 5.13%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 earnings per share. On average, equities research analysts forecast that W.P. Carey will post $2.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a $0.985 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.98. This represents a $3.94 annualized dividend and a dividend yield of 5.87%. W.P. Carey’s dividend payout ratio is presently 230.59%.
Several institutional investors have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp bought a new position in shares of W.P. Carey during the first quarter valued at $498,000. Ancora Inverness LLC raised its position in shares of W.P. Carey by 3.9% in the first quarter. Ancora Inverness LLC now owns 27,230 shares of the company’s stock valued at $1,695,000 after buying an additional 1,032 shares during the last quarter. LVW Advisors LLC bought a new position in shares of W.P. Carey during the first quarter valued at $209,000. NN Investment Partners Holdings N.V. bought a new position in shares of W.P. Carey during the first quarter valued at $1,376,000. Finally, BlackRock Japan Co. Ltd raised its position in shares of W.P. Carey by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 5,157 shares of the company’s stock valued at $321,000 after buying an additional 54 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.
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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