W.P. Carey Inc. (WPC) Receives Consensus Rating of “Hold” from Brokerages

W.P. Carey Inc. (NYSE:WPC) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $70.00.

A number of brokerages recently commented on WPC. Robert W. Baird began coverage on W.P. Carey in a report on Wednesday, October 18th. They issued an “outperform” rating and a $77.00 target price on the stock. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey in a report on Friday, September 1st. Zacks Investment Research cut W.P. Carey from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine raised W.P. Carey from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub raised W.P. Carey from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th.

Shares of W.P. Carey (NYSE:WPC) traded up 0.85% during trading on Friday, hitting $68.42. The stock had a trading volume of 232,880 shares. The firm has a market capitalization of $7.31 billion, a P/E ratio of 26.35 and a beta of 0.86. The stock’s 50-day moving average price is $68.93 and its 200 day moving average price is $66.71. W.P. Carey has a 1-year low of $55.77 and a 1-year high of $70.38.

W.P. Carey (NYSE:WPC) last announced its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.56). W.P. Carey had a return on equity of 8.10% and a net margin of 34.97%. The company had revenue of $221.52 million during the quarter, compared to the consensus estimate of $221.19 million. During the same period in the prior year, the business posted $1.24 earnings per share. W.P. Carey’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts anticipate that W.P. Carey will post $2.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend was Friday, September 29th. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s dividend payout ratio is presently 155.21%.

A number of hedge funds have recently modified their holdings of WPC. Ffcm LLC increased its stake in W.P. Carey by 179.3% in the 2nd 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 2nd quarter worth $115,000. QCI Asset Management Inc. NY increased its stake in W.P. Carey by 148.7% in the 2nd 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 2nd quarter worth $128,000. Finally, D. Scott Neal Inc. increased its stake in W.P. Carey by 12.3% in the 2nd 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 and hedge funds own 48.72% of the company’s stock.

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W.P. Carey Company Profile

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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