W.P. Carey Inc. (WPC) Given Hold Rating at Ladenburg Thalmann Financial Services
W.P. Carey Inc. (NYSE:WPC)‘s stock had its “hold” rating reaffirmed by analysts at Ladenburg Thalmann Financial Services in a research note issued to investors on Friday.
Several other brokerages have also issued reports on WPC. BidaskClub upgraded shares of W.P. Carey from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $69.00 price target (up previously from $59.50) on shares of W.P. Carey in a report on Friday, June 16th. Evercore ISI downgraded 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 report on Monday, June 12th. Finally, ValuEngine downgraded shares of W.P. Carey from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. W.P. Carey presently has a consensus rating of “Hold” and an average price target of $67.75.
W.P. Carey (NYSE:WPC) traded up 1.00% during trading on Friday, reaching $69.54. The company’s stock had a trading volume of 122,444 shares. The company has a market cap of $7.43 billion, a P/E ratio of 26.78 and a beta of 0.88. The company’s 50 day moving average price is $67.60 and its 200 day moving average price is $64.84. W.P. Carey has a 52 week low of $55.77 and a 52 week high of $69.60.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.56. W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The business had revenue of $221.52 million during the quarter, compared to analysts’ expectations of $221.19 million. During the same period last year, the company posted $1.24 EPS. W.P. Carey’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that W.P. Carey will post $2.16 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. MUFG Americas Holdings Corp raised its stake in shares of W.P. Carey by 473.8% in the first quarter. MUFG Americas Holdings Corp now owns 2,869 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 2,369 shares in the last quarter. NewFocus Financial Group LLC bought a new stake in shares of W.P. Carey during the first quarter worth about $2,143,000. Comerica Bank raised its stake in shares of W.P. Carey by 9.9% in the first quarter. Comerica Bank now owns 9,550 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 862 shares in the last quarter. CLS Investments LLC raised its stake in shares of W.P. Carey by 21.9% in the first quarter. CLS Investments LLC now owns 5,016 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 900 shares in the last quarter. Finally, Suntrust Banks Inc. bought a new stake in shares of W.P. Carey during the first quarter worth about $285,000. 48.89% of the stock is owned by hedge funds and other institutional investors.
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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