Christopher Niehaus Buys 3,850 Shares of WP Carey Inc (WPC) Stock
WP Carey Inc (NYSE:WPC) Director Christopher Niehaus acquired 3,850 shares of the stock in a transaction on Tuesday, November 13th. The shares were acquired at an average price of $66.08 per share, for a total transaction of $254,408.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of WPC stock traded down $0.29 on Tuesday, hitting $65.93. The stock had a trading volume of 1,876,137 shares, compared to its average volume of 517,521. The company has a market cap of $10.40 billion, a P/E ratio of 12.44 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. WP Carey Inc has a 12-month low of $59.23 and a 12-month high of $72.41.
WP Carey (NYSE:WPC) last announced its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.08. The company had revenue of $209.40 million during the quarter, compared to the consensus estimate of $215.47 million. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. As a group, research analysts expect that WP Carey Inc will post 5.26 earnings per share for the current fiscal year.
Several research analysts have weighed in on WPC shares. Bank of America upped their price objective on shares of WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a report on Monday, August 13th. Zacks Investment Research downgraded shares of WP Carey from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, ValuEngine downgraded shares of WP Carey from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $70.08.
Hedge funds have recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of WP Carey in the second quarter valued at about $117,000. Girard Partners LTD. purchased a new stake in shares of WP Carey in the third quarter valued at about $113,000. First Hawaiian Bank purchased a new stake in shares of WP Carey in the third quarter valued at about $123,000. Chicago Capital LLC purchased a new stake in shares of WP Carey in the second quarter valued at about $207,000. Finally, Gradient Capital Advisors LLC purchased a new stake in shares of WP Carey in the second quarter valued at about $213,000. Institutional investors own 48.54% of the company’s stock.
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WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 million square feet. For over four decades the Company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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