Shares of WP Carey Inc (NYSE:WPC) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $67.63.
Several research firms have commented on WPC. Zacks Investment Research lowered WP Carey from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. ValuEngine upgraded WP Carey from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Bank of America upped their price objective on WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a research report on Monday, August 13th.
Several large investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL lifted its position in shares of WP Carey by 2.4% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 107,500 shares of the real estate investment trust’s stock valued at $6,913,000 after buying an additional 2,500 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of WP Carey by 6.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 88,100 shares of the real estate investment trust’s stock valued at $5,666,000 after buying an additional 5,057 shares in the last quarter. Commerce Bank lifted its position in shares of WP Carey by 552.5% during the 3rd quarter. Commerce Bank now owns 41,406 shares of the real estate investment trust’s stock valued at $2,663,000 after buying an additional 35,060 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of WP Carey by 2.1% during the 3rd quarter. Wells Fargo & Company MN now owns 514,051 shares of the real estate investment trust’s stock valued at $33,059,000 after buying an additional 10,367 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of WP Carey by 106.4% during the 3rd quarter. Private Advisor Group LLC now owns 54,967 shares of the real estate investment trust’s stock valued at $3,535,000 after buying an additional 28,333 shares in the last quarter. Hedge funds and other institutional investors own 48.81% of the company’s stock.
WP Carey (NYSE:WPC) last released its quarterly earnings data on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.08. WP Carey had a return on equity of 8.51% and a net margin of 38.18%. The business had revenue of $209.40 million for the quarter, compared to analyst estimates of $215.47 million. During the same quarter in the prior year, the firm posted $0.74 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts expect that WP Carey will post 5.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were given a $1.025 dividend. This represents a $4.10 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Friday, September 28th. This is a positive change from WP Carey’s previous quarterly dividend of $1.02. WP Carey’s dividend payout ratio is currently 77.36%.
WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 million square feet. For over four decades the Company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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