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. “
Several other analysts have also commented on WPC. BMO Capital Markets reaffirmed a buy rating and set a $70.00 price target on shares of W.P. Carey Inc. REIT in a research report on Wednesday, March 1st. Evercore ISI raised shares of W.P. Carey Inc. REIT to an outperform rating in a research report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. W.P. Carey Inc. REIT presently has a consensus rating of Hold and an average target price of $65.38.
Shares of W.P. Carey Inc. REIT (NYSE:WPC) opened at 62.00 on Wednesday. The firm’s 50-day moving average price is $62.33 and its 200 day moving average price is $61.61. W.P. Carey Inc. REIT has a 12 month low of $55.77 and a 12 month high of $72.89. The company has a market cap of $6.59 billion, a PE ratio of 24.90 and a beta of 0.87.
W.P. Carey Inc. REIT (NYSE:WPC) last released its quarterly earnings results on Thursday, February 23rd. The company reported $1.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by $0.10. The firm had revenue of $202.50 million for the quarter, compared to analysts’ expectations of $167.21 million. W.P. Carey Inc. REIT had a net margin of 30.17% and a return on equity of 7.71%. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. Equities research analysts anticipate that W.P. Carey Inc. REIT will post $2.68 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a $0.995 dividend. This is a positive change from W.P. Carey Inc. REIT’s previous quarterly dividend of $0.99. The ex-dividend date is Wednesday, March 29th. This represents a $3.98 dividend on an annualized basis and a yield of 6.42%. W.P. Carey Inc. REIT’s payout ratio is presently 156.52%.
In other W.P. Carey Inc. REIT news, insider Mark M. Goldberg sold 18,065 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $63.18, for a total value of $1,141,346.70. Following the sale, the insider now owns 129,237 shares of the company’s stock, valued at $8,165,193.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.68% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in WPC. BlackRock Institutional Trust Company N.A. raised its stake in W.P. Carey Inc. REIT by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,371,099 shares of the company’s stock worth $217,537,000 after buying an additional 132,453 shares in the last quarter. State Street Corp raised its stake in W.P. Carey Inc. REIT by 5.4% in the fourth quarter. State Street Corp now owns 1,846,111 shares of the company’s stock worth $109,091,000 after buying an additional 94,284 shares in the last quarter. BlackRock Fund Advisors raised its stake in W.P. Carey Inc. REIT by 7.7% in the third quarter. BlackRock Fund Advisors now owns 1,616,263 shares of the company’s stock worth $104,297,000 after buying an additional 115,590 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in W.P. Carey Inc. REIT by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,322,508 shares of the company’s stock worth $78,146,000 after buying an additional 33,412 shares in the last quarter. Finally, Northern Trust Corp raised its stake in W.P. Carey Inc. REIT by 4.3% in the third quarter. Northern Trust Corp now owns 842,700 shares of the company’s stock worth $54,379,000 after buying an additional 35,015 shares in the last quarter. 48.59% of the stock is currently owned by institutional investors.
About W.P. Carey Inc. REIT
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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