W.P. Carey Inc. (WPC) Receives Average Rating of “Hold” from Brokerages
Shares of W.P. Carey Inc. (NYSE:WPC) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $68.17.
WPC has been the topic of a number of recent research reports. Zacks Investment Research raised shares of W.P. Carey from a “hold” rating to a “strong-buy” rating and set a $82.00 price objective on the stock in a research note on Thursday, July 28th. Citigroup Inc. raised their price objective 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. BMO Capital Markets reaffirmed a “buy” rating and issued a $81.00 price objective on shares of W.P. Carey in a research note on Friday, September 23rd. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of W.P. Carey in a research note on Sunday, September 25th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPC. Geode Capital Management LLC raised its position in W.P. Carey by 3.9% in the first quarter. Geode Capital Management LLC now owns 616,225 shares of the company’s stock worth $38,353,000 after buying an additional 23,348 shares during the last quarter. State Street Corp raised its position in W.P. Carey by 2.6% in the first quarter. State Street Corp now owns 1,611,987 shares of the company’s stock worth $100,330,000 after buying an additional 41,380 shares during the last quarter. Diligent Investors LLC raised its position in W.P. Carey by 0.5% in the second quarter. Diligent Investors LLC now owns 9,500 shares of the company’s stock worth $659,000 after buying an additional 44 shares during the last quarter. Sigma Planning Corp raised its position in W.P. Carey by 0.6% in the second quarter. Sigma Planning Corp now owns 5,237 shares of the company’s stock worth $364,000 after buying an additional 30 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in W.P. Carey by 114.4% in the second quarter. Global X Management Co. LLC now owns 5,081 shares of the company’s stock worth $353,000 after buying an additional 2,711 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.
W.P. Carey (NYSE:WPC) traded down 0.24% on Friday, hitting $62.30. 151,071 shares of the stock traded hands. W.P. Carey has a 52 week low of $51.12 and a 52 week high of $72.89. The stock has a 50 day moving average of $65.00 and a 200 day moving average of $65.74. The firm has a market capitalization of $6.59 billion, a PE ratio of 36.65 and a beta of 0.87.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.65. The business 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 business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $1.31 earnings per share. Equities research analysts anticipate that W.P. Carey will post $2.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a dividend of $0.985 per share. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.98. This represents a $3.94 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date is Thursday, September 29th. W.P. Carey’s dividend payout ratio (DPR) is presently 231.76%.
About W.P. Carey
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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