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.
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