Brokerages Set W.P. Carey Inc. (WPC) Target Price at $68.17
W.P. Carey Inc. (NYSE:WPC) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the firm. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $68.17.
A number of research firms have weighed in on WPC. Zacks Investment Research cut W.P. Carey from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th. BMO Capital Markets reiterated a “buy” rating and set a $81.00 target price on shares of W.P. Carey in a research note on Friday, September 23rd. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of W.P. Carey in a research note on Sunday, September 25th.
W.P. Carey (NYSE:WPC) opened at 59.09 on Friday. The stock has a 50 day moving average of $60.15 and a 200-day moving average of $65.39. The firm has a market capitalization of $6.28 billion, a PE ratio of 23.36 and a beta of 0.90. W.P. Carey has a one year low of $51.12 and a one year high of $72.89.
W.P. Carey (NYSE:WPC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.17. The company earned $204.20 million during the quarter, compared to analysts’ expectations of $176.33 million. W.P. Carey had a return on equity of 7.71% and a net margin of 30.17%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. On average, equities analysts predict that W.P. Carey will post $2.68 EPS for the current year.
In other news, Director Mark A. Alexander purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average cost of $57.73 per share, with a total value of $230,920.00. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $230,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary M. Vandeweghe purchased 940 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average cost of $58.67 per share, for a total transaction of $55,149.80. Following the completion of the transaction, the director now owns 7,484 shares in the company, valued at approximately $439,086.28. The disclosure for this purchase can be found here. Corporate insiders own 1.68% of the company’s stock.
Several large investors have recently bought and sold shares of WPC. DF Dent & Co. Inc. raised its stake in W.P. Carey by 0.3% in the third quarter. DF Dent & Co. Inc. now owns 5,715 shares of the company’s stock valued at $369,000 after buying an additional 19 shares in the last quarter. Investors Capital Advisory Services raised its stake in W.P. Carey by 0.6% in the second quarter. Investors Capital Advisory Services now owns 4,258 shares of the company’s stock valued at $295,000 after buying an additional 25 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in W.P. Carey by 0.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,219 shares of the company’s stock valued at $571,000 after buying an additional 26 shares in the last quarter. Sigma Planning Corp raised its stake in W.P. Carey by 0.6% in the second quarter. Sigma Planning Corp now owns 5,237 shares of the company’s stock valued at $364,000 after buying an additional 30 shares in the last quarter. Finally, Columbia Asset Management raised its stake in W.P. Carey by 0.6% in the third quarter. Columbia Asset Management now owns 6,455 shares of the company’s stock valued at $417,000 after buying an additional 40 shares in the last quarter. 48.18% of the stock is currently owned by institutional investors and hedge funds.
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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