WP Carey (NYSE:WPC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

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. “

WPC has been the subject of several other research reports. Citigroup raised WP Carey from a “sell” rating to a “neutral” rating and increased their target price for the stock from $59.00 to $81.00 in a research report on Friday, June 7th. ValuEngine lowered WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.00.

WPC traded down $2.34 during midday trading on Friday, reaching $86.38. 652,853 shares of the company’s stock traded hands, compared to its average volume of 569,333. The firm has a fifty day moving average of $87.66 and a two-hundred day moving average of $82.12. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 6.64 and a beta of 0.46. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.35 and a quick ratio of 0.35. WP Carey has a 52 week low of $62.12 and a 52 week high of $92.06.

WP Carey (NYSE:WPC) last released its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.85). The business had revenue of $305.21 million for the quarter, compared to the consensus estimate of $303.23 million. WP Carey had a net margin of 38.36% and a return on equity of 6.72%. During the same period in the previous year, the company earned $0.60 EPS. Sell-side analysts forecast that WP Carey will post 4.9 EPS for the current year.

Large investors have recently made changes to their positions in the company. Centaurus Financial Inc. raised its position in shares of WP Carey by 65.4% in the 1st quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 811 shares in the last quarter. Ausdal Financial Partners Inc. raised its position in shares of WP Carey by 14.6% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 7,056 shares of the real estate investment trust’s stock worth $610,000 after acquiring an additional 901 shares in the last quarter. Eldridge Investment Advisors Inc. raised its position in shares of WP Carey by 3.2% in the 2nd quarter. Eldridge Investment Advisors Inc. now owns 12,725 shares of the real estate investment trust’s stock worth $1,033,000 after acquiring an additional 400 shares in the last quarter. Private Vista LLC raised its position in shares of WP Carey by 7.6% in the 1st quarter. Private Vista LLC now owns 15,408 shares of the real estate investment trust’s stock worth $1,207,000 after acquiring an additional 1,084 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of WP Carey by 4.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 184,368 shares of the real estate investment trust’s stock worth $14,442,000 after buying an additional 7,718 shares during the last quarter. 56.29% of the stock is owned by hedge funds and other institutional investors.

WP Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 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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