Shares of W.P. Carey Inc. (NYSE:WPC) have earned a consensus rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $67.67.
Several brokerages have commented on WPC. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research note on Friday, June 16th. Wells Fargo & Company reiterated a “market perform” rating and issued a $69.00 price target (up from $59.50) on shares of W.P. Carey in a research note on Friday, June 16th. ValuEngine lowered shares of W.P. Carey from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Evercore ISI lowered shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research note on Monday, June 12th.
Institutional investors have recently made changes to their positions in the stock. DF Dent & Co. Inc. raised its position in shares of W.P. Carey by 0.4% in the first quarter. DF Dent & Co. Inc. now owns 5,758 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 22 shares in the last quarter. FineMark National Bank & Trust raised its position in shares of W.P. Carey by 0.6% in the second quarter. FineMark National Bank & Trust now owns 14,808 shares of the real estate investment trust’s stock valued at $977,000 after buying an additional 83 shares in the last quarter. First Manhattan Co. raised its position in shares of W.P. Carey by 0.6% in the first quarter. First Manhattan Co. now owns 15,700 shares of the real estate investment trust’s stock valued at $1,013,000 after buying an additional 100 shares in the last quarter. Creative Planning raised its position in shares of W.P. Carey by 0.4% in the first quarter. Creative Planning now owns 24,216 shares of the real estate investment trust’s stock valued at $1,507,000 after buying an additional 100 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in shares of W.P. Carey by 5.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,916 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 100 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.
W.P. Carey (NYSE WPC) traded down 0.71% during mid-day trading on Tuesday, reaching $67.10. 283,171 shares of the company were exchanged. W.P. Carey has a 1-year low of $55.77 and a 1-year high of $70.15. The firm has a market capitalization of $7.15 billion, a P/E ratio of 27.07 and a beta of 0.88. The stock has a 50-day moving average of $67.43 and a 200 day moving average of $64.14.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, August 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by $0.56. The company had revenue of $221.52 million during the quarter, compared to analysts’ expectations of $221.19 million. W.P. Carey had a net margin of 34.97% and a return on equity of 8.09%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. Equities research analysts forecast that W.P. Carey will post $2.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $1.00 dividend. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. This represents a $4.00 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend was Wednesday, June 28th. W.P. Carey’s dividend payout ratio is currently 154.44%.
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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