W.P. Carey Inc. (WPC) Upgraded by ValuEngine to Buy
ValuEngine upgraded shares of W.P. Carey Inc. (NYSE:WPC) from a hold rating to a buy rating in a research note released on Monday morning.
WPC has been the subject of several other research reports. BidaskClub upgraded shares of W.P. Carey from a buy rating to a strong-buy rating in a research note on Saturday, August 19th. Ladenburg Thalmann Financial Services reissued a hold rating on shares of W.P. Carey in a report on Friday, June 16th. Wells Fargo & Company restated a market perform rating and issued a $69.00 price objective (up previously from $59.50) on shares of W.P. Carey in a research note on Friday, June 16th. Finally, Evercore ISI cut shares of W.P. Carey from an in-line rating to an underperform rating and set a $64.00 price objective for the company. in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $67.75.
W.P. Carey (NYSE WPC) opened at 67.77 on Monday. The stock has a market capitalization of $7.24 billion, a P/E ratio of 26.10 and a beta of 0.86. The company has a 50-day moving average price of $68.38 and a 200 day moving average price of $65.89. W.P. Carey has a 1-year low of $55.77 and a 1-year high of $70.38.
W.P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 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 company had revenue of $221.52 million for the quarter, compared to analyst estimates of $221.19 million. During the same period in the prior year, the company posted $1.24 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that W.P. Carey will post $2.23 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Friday, September 29th. This is an increase from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s dividend payout ratio (DPR) is 155.21%.
A number of institutional investors have recently added to or reduced their stakes in WPC. Ffcm LLC lifted its holdings in shares of W.P. Carey by 179.3% during the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock valued at $115,000 after acquiring an additional 1,092 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of W.P. Carey in the 2nd quarter valued at $115,000. QCI Asset Management Inc. NY boosted its stake in shares of W.P. Carey by 148.7% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,803 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 1,078 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of W.P. Carey in the 2nd quarter worth about $128,000. Finally, D. Scott Neal Inc. grew its holdings in shares of W.P. Carey by 12.3% in the 2nd quarter. D. Scott Neal Inc. now owns 2,471 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 48.76% of the company’s stock.
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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