Zacks Investment Research lowered shares of W.P. Carey Inc. (NYSE:WPC) from a hold rating to a sell rating in a research note published on Friday, October 27th.
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. “
A number of other analysts also recently issued reports on WPC. BidaskClub raised shares of W.P. Carey from a buy rating to a strong-buy rating in a report on Saturday, August 19th. ValuEngine raised shares of W.P. Carey from a hold rating to a buy rating in a report on Monday, October 2nd. Robert W. Baird began coverage on shares of W.P. Carey in a report on Wednesday, October 18th. They set an outperform rating and a $77.00 price target for the company. Finally, Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of W.P. Carey in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $70.00.
W.P. Carey (NYSE:WPC) traded down $0.26 during midday trading on Friday, reaching $70.99. 264,700 shares of the company’s stock were exchanged, compared to its average volume of 315,327. The company has a quick ratio of 0.38, a current ratio of 0.35 and a debt-to-equity ratio of 1.19. The company has a market cap of $7,617.30, a P/E ratio of 13.65, a P/E/G ratio of 3.95 and a beta of 0.95. W.P. Carey has a 52-week low of $55.97 and a 52-week high of $71.99.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, November 3rd. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.21. The firm had revenue of $210.00 million during the quarter, compared to the consensus estimate of $212.72 million. W.P. Carey had a net margin of 31.28% and a return on equity of 7.25%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. research analysts forecast that W.P. Carey will post 4.51 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were issued a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend was 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 is 174.78%.
Several institutional investors have recently modified their holdings of WPC. Russell Investments Group Ltd. lifted its holdings in shares of W.P. Carey by 7.5% during the 1st quarter. Russell Investments Group Ltd. now owns 9,697 shares of the real estate investment trust’s stock worth $603,000 after acquiring an additional 678 shares during the period. Teachers Advisors LLC lifted its stake in W.P. Carey by 0.3% in the 1st quarter. Teachers Advisors LLC now owns 157,827 shares of the real estate investment trust’s stock valued at $9,820,000 after purchasing an additional 507 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in W.P. Carey by 1.3% in the 1st quarter. Thrivent Financial For Lutherans now owns 16,200 shares of the real estate investment trust’s stock valued at $1,008,000 after purchasing an additional 200 shares during the last quarter. BlackRock Inc. lifted its stake in W.P. Carey by 4,264.3% in the 1st quarter. BlackRock Inc. now owns 6,517,625 shares of the real estate investment trust’s stock valued at $405,525,000 after purchasing an additional 6,368,287 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in W.P. Carey by 17.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 349,785 shares of the real estate investment trust’s stock valued at $21,764,000 after purchasing an additional 50,736 shares during the last quarter. 48.52% of the stock is owned by institutional investors.
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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