WPC has been the topic of several other research reports. Zacks Investment Research lowered W.P. Carey from a strong-buy rating to a hold rating in a research note on Tuesday, July 26th. Citigroup Inc. upped their price target on W.P. Carey from $54.00 to $59.00 and gave the company a sell rating in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $71.63.
W.P. Carey (NYSE:WPC) opened at 65.935 on Friday. The firm’s 50-day moving average price is $66.55 and its 200 day moving average price is $65.68. The stock has a market cap of $6.97 billion, a PE ratio of 38.785 and a beta of 0.92. W.P. Carey has a 1-year low of $51.12 and a 1-year high of $72.89.
W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.65. W.P. Carey had a return on equity of 5.13% and a net margin of 19.50%. The business had revenue of $198.80 million for the quarter, compared to analyst estimates of $184.64 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts expect that W.P. Carey will post $2.20 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be paid a $0.985 dividend. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.94 annualized dividend and a yield of 5.89%. W.P. Carey’s dividend payout ratio is presently 230.59%.
A number of institutional investors have recently added to or reduced their stakes in WPC. AllSquare Wealth Management LLC raised its position in W.P. Carey by 11.1% in the second quarter. AllSquare Wealth Management LLC now owns 2,000 shares of the company’s stock valued at $139,000 after buying an additional 200 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in W.P. Carey by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 2,458 shares of the company’s stock worth $171,000 after buying an additional 80 shares in the last quarter. Logan Capital Management Inc. acquired a new stake in W.P. Carey during the second quarter worth approximately $201,000. Carret Asset Management LLC acquired a new stake in W.P. Carey during the second quarter worth approximately $206,000. Finally, Kempner Capital Management Inc. acquired a new stake in W.P. Carey during the second quarter worth approximately $208,000. 47.84% of the stock is currently owned by hedge funds and other 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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