W.P. Carey Inc. (WPC) Given Average Rating of “Hold” by Brokerages
W.P. Carey Inc. (NYSE:WPC) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $65.50.
Several analysts have recently weighed in on the company. Wells Fargo & Company restated a “market perform” rating and issued a $69.00 price objective (up previously from $59.50) on shares of W.P. Carey in a report on Friday. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of W.P. Carey in a report on Friday. ValuEngine lowered W.P. Carey from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Evercore ISI lowered W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price objective for the company. in a report on Monday, June 12th. Finally, BMO Capital Markets restated a “buy” rating and issued a $70.00 price objective on shares of W.P. Carey in a report on Wednesday, March 1st.
Several large investors have recently made changes to their positions in WPC. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of W.P. Carey during the fourth quarter worth about $111,000. Independent Advisor Alliance bought a new stake in shares of W.P. Carey during the fourth quarter worth about $125,000. WFG Advisors LP raised its stake in shares of W.P. Carey by 159.3% in the first quarter. WFG Advisors LP now owns 2,344 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 1,440 shares during the period. Penserra Capital Management LLC raised its stake in shares of W.P. Carey by 64.0% in the first quarter. Penserra Capital Management LLC now owns 2,608 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 1,018 shares during the period. Finally, MUFG Americas Holdings Corp raised its stake in shares of W.P. Carey by 473.8% in the first quarter. MUFG Americas Holdings Corp now owns 2,869 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 2,369 shares during the period. 49.08% of the stock is currently owned by institutional investors.
W.P. Carey (WPC) traded down 0.32% during midday trading on Monday, hitting $67.80. The stock had a trading volume of 372,664 shares. The company has a 50-day moving average price of $64.46 and a 200-day moving average price of $62.25. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 27.35 and a beta of 0.87. W.P. Carey has a 12-month low of $55.77 and a 12-month high of $72.89.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by $0.59. The firm had revenue of $188.10 million during the quarter, compared to analyst estimates of $223.82 million. W.P. Carey had a net margin of 33.03% and a return on equity of 7.73%. The company’s quarterly revenue was down 23.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. Equities analysts anticipate that W.P. Carey will post $2.68 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.90%. W.P. Carey’s payout ratio is 160.48%.
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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