W.P. Carey Inc. (WPC) Receives Consensus Rating of “Buy” from Brokerages
Shares of W.P. Carey Inc. (NYSE:WPC) have been given an average recommendation of “Buy” by the seven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $70.00.
A number of analysts have commented on the stock. Robert W. Baird assumed coverage on shares of W.P. Carey in a report on Wednesday. They set an “outperform” rating and a $77.00 target price for the company. ValuEngine raised shares of W.P. Carey from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey in a report on Friday, September 1st. Finally, BidaskClub raised shares of W.P. Carey from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th.
Shares of W.P. Carey (NYSE WPC) traded up 0.43% during trading on Friday, reaching $69.74. The company’s stock had a trading volume of 276,135 shares. The company’s 50-day moving average is $68.95 and its 200-day moving average is $66.54. The company has a market capitalization of $7.45 billion, a P/E ratio of 26.85 and a beta of 0.86. W.P. Carey has a 12 month low of $55.77 and a 12 month high of $70.38.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.56). W.P. Carey had a return on equity of 8.10% and a net margin of 34.97%. The company had revenue of $221.52 million during the quarter, compared to the consensus estimate of $221.19 million. During the same quarter last year, the firm earned $1.24 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts forecast that W.P. Carey will post $2.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were issued a $1.005 dividend. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, September 29th. This represents a $4.02 annualized dividend and a dividend yield of 5.76%. W.P. Carey’s payout ratio is 155.21%.
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Hedge funds have recently made changes to their positions in the company. Ffcm LLC grew its holdings in shares of W.P. Carey by 179.3% in the 2nd quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 1,092 shares during the period. Bruderman Asset Management LLC acquired a new position in shares of W.P. Carey in the 2nd quarter valued at $115,000. QCI Asset Management Inc. NY grew its holdings in shares of W.P. Carey by 148.7% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,803 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 1,078 shares during the period. Schroder Investment Management Group acquired a new position in shares of W.P. Carey in the 2nd quarter valued at $128,000. Finally, D. Scott Neal Inc. grew its holdings in shares of W.P. Carey by 12.3% in the 2nd quarter. D. Scott Neal Inc. now owns 2,471 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 271 shares during the period. 48.77% of the stock is 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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