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.
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