W.P. Carey Inc. (NYSE:WPC) Coverage Initiated at Robert W. Baird

Analysts at Robert W. Baird initiated coverage on shares of W.P. Carey Inc. (NYSE:WPC) in a report released on Wednesday, October 18th. The firm set an “outperform” rating and a $77.00 price target on the real estate investment trust’s stock. Robert W. Baird’s price objective suggests a potential upside of 12.54% from the company’s previous close.

Several other brokerages have also recently weighed in on WPC. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey in a research note on Friday, September 1st. ValuEngine raised W.P. Carey from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BidaskClub raised W.P. Carey from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.

W.P. Carey (NYSE WPC) traded up 0.85% during trading on Wednesday, hitting $68.42. 232,880 shares of the stock were exchanged. The firm has a 50-day moving average of $68.86 and a 200-day moving average of $66.76. W.P. Carey has a 52 week low of $55.77 and a 52 week high of $70.38. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 26.35 and a beta of 0.86.

W.P. Carey (NYSE:WPC) last posted its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.56). The business had revenue of $221.52 million for the quarter, compared to analysts’ expectations of $221.19 million. W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. W.P. Carey’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.24 earnings per share. Equities research analysts anticipate that W.P. Carey will post $2.23 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Ffcm LLC increased its position in W.P. Carey by 179.3% in the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 1,092 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in W.P. Carey in the second quarter worth about $115,000. QCI Asset Management Inc. NY increased its position in W.P. Carey by 148.7% in the second quarter. QCI Asset Management Inc. NY now owns 1,803 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 1,078 shares in the last quarter. Schroder Investment Management Group purchased a new stake in W.P. Carey in the second quarter worth about $128,000. Finally, D. Scott Neal Inc. increased its position in W.P. Carey by 12.3% in the second quarter. D. Scott Neal Inc. now owns 2,471 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 271 shares in the last quarter. Institutional investors own 48.72% 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.

Analyst Recommendations for W.P. Carey (NYSE:WPC)

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