W.P. Carey Inc. (WPC) Upgraded to Hold by Zacks Investment Research
According to Zacks, “W. P. Carey Inc. is a real estate investment trust engaged in providing long-term sale-leaseback and build-to-suit financing for companies. The firm primarily invests in commercial properties that are generally triple-net leased to single corporate tenants including office, warehouse, industrial, logistics, retail, hotel, R&D, and self-storage properties. W. P. Carey Inc., formerly known as W. P. Carey & Co. LLC, is based in New York. “
Several other analysts also recently weighed in on WPC. BMO Capital Markets reiterated a buy rating and set a $81.00 price target on shares of W.P. Carey in a research note on Friday, September 23rd. Wells Fargo & Co. reiterated a hold rating on shares of W.P. Carey in a research note on Sunday, September 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. W.P. Carey has an average rating of Hold and a consensus target price of $71.63.
W.P. Carey (NYSE:WPC) opened at 58.12 on Wednesday. W.P. Carey has a 12-month low of $51.12 and a 12-month high of $72.89. The firm’s 50-day moving average price is $59.84 and its 200 day moving average price is $65.30. The stock has a market cap of $6.18 billion, a PE ratio of 22.97 and a beta of 0.90.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.17. The firm had revenue of $204.20 million for the quarter, compared to analysts’ expectations of $176.33 million. W.P. Carey had a net margin of 30.17% and a return on equity of 7.71%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. Analysts anticipate that W.P. Carey will post $2.68 EPS for the current year.
In other news, Director Mark A. Alexander acquired 4,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was bought at an average cost of $57.73 per share, for a total transaction of $230,920.00. Following the purchase, the director now owns 4,000 shares in the company, valued at $230,920. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary M. Vandeweghe acquired 940 shares of the business’s stock in a transaction on Monday, November 7th. The shares were purchased at an average price of $58.67 per share, with a total value of $55,149.80. Following the completion of the purchase, 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. Company insiders own 1.68% of the company’s stock.
A number of large investors have recently bought and sold shares of WPC. Sumitomo Mitsui Asset Management Company LTD raised its stake in W.P. Carey by 2.5% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,175 shares of the company’s stock valued at $269,000 after buying an additional 100 shares during the period. Diligent Investors LLC raised its stake 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 period. 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 worth $364,000 after buying an additional 30 shares during the period. Global X Management Co. LLC raised its stake 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 period. Finally, Virginia Retirement Systems ET AL bought a new stake in W.P. Carey during the second quarter worth about $7,928,000. Institutional investors own 48.51% of the company’s stock.
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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