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.

TRADEMARK VIOLATION WARNING: “W.P. Carey Inc. (WPC) Upgraded by ValuEngine to Buy” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/10/03/w-p-carey-inc-wpc-upgraded-by-valuengine-to-buy.html.

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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