W.P. Carey Inc. REIT (NYSE:WPC) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $72.00.
WPC has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of W.P. Carey Inc. REIT from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Evercore ISI lowered shares of W.P. Carey Inc. REIT from an “in-line” rating to an “underperform” rating in a research note on Monday, December 11th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey Inc. REIT in a research note on Friday, November 10th. Robert W. Baird initiated coverage on shares of W.P. Carey Inc. REIT in a research note on Wednesday, October 18th. They set an “outperform” rating and a $77.00 price target on the stock. Finally, Zacks Investment Research lowered shares of W.P. Carey Inc. REIT from a “hold” rating to a “sell” rating in a research note on Friday, October 27th.
Institutional investors and hedge funds have recently modified their holdings of the business. Ffcm LLC grew its position in W.P. Carey Inc. REIT by 179.3% during the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 1,092 shares during the period. Bruderman Asset Management LLC acquired a new position in W.P. Carey Inc. REIT during the second quarter worth about $115,000. Schroder Investment Management Group acquired a new position in W.P. Carey Inc. REIT during the second quarter worth about $128,000. Legg Mason Asset Management Japan Co. Ltd. acquired a new position in W.P. Carey Inc. REIT during the second quarter worth about $172,000. Finally, Federated Investors Inc. PA grew its position in W.P. Carey Inc. REIT by 5.1% during the second quarter. Federated Investors Inc. PA now owns 2,900 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 142 shares during the period. Institutional investors own 48.74% of the company’s stock.
W.P. Carey Inc. REIT (NYSE:WPC) last issued its quarterly earnings results on Friday, November 3rd. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. W.P. Carey Inc. REIT had a net margin of 31.28% and a return on equity of 7.25%. The business had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.72 million. During the same period in the previous year, the business posted $1.34 earnings per share. The business’s revenue was down 6.7% compared to the same quarter last year. equities research analysts forecast that W.P. Carey Inc. REIT will post 4.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 5.97%. This is a positive change from W.P. Carey Inc. REIT’s previous quarterly dividend of $1.01. The ex-dividend date is Thursday, December 28th. W.P. Carey Inc. REIT’s payout ratio is 174.14%.
About W.P. Carey Inc. REIT
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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