Zacks Investment Research upgraded shares of W.P. Carey Inc. REIT (NYSE:WPC) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $70.00 price objective on the real estate investment trust’s stock.
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. “
A number of other equities research analysts have also recently commented on the stock. Capital One Financial reaffirmed an equal weight rating on shares of W.P. Carey Inc. REIT in a research note on Sunday, February 25th. ValuEngine cut shares of W.P. Carey Inc. REIT from a buy rating to a hold rating in a research note on Tuesday, February 20th. Finally, Evercore ISI cut shares of W.P. Carey Inc. REIT from an in-line rating to an underperform rating in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $70.00.
W.P. Carey Inc. REIT (NYSE:WPC) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. The business had revenue of $196.96 million for the quarter, compared to analysts’ expectations of $210.92 million. W.P. Carey Inc. REIT had a net margin of 36.17% and a return on equity of 8.05%. The business’s revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. research analysts forecast that W.P. Carey Inc. REIT will post 4.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a dividend of $1.015 per share. This is a positive change from W.P. Carey Inc. REIT’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 6.70%. W.P. Carey Inc. REIT’s dividend payout ratio (DPR) is 158.43%.
In other W.P. Carey Inc. REIT news, Director Christopher Niehaus bought 4,000 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were purchased at an average price of $62.28 per share, for a total transaction of $249,120.00. Following the transaction, the director now directly owns 5,188 shares of the company’s stock, valued at approximately $323,108.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter Farrell bought 2,035 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were acquired at an average price of $61.88 per share, for a total transaction of $125,925.80. Following the transaction, the director now directly owns 4,378 shares in the company, valued at $270,910.64. The disclosure for this purchase can be found here. Company insiders own 1.32% of the company’s stock.
Large investors have recently made changes to their positions in the company. Berkshire Asset Management LLC PA lifted its position in shares of W.P. Carey Inc. REIT by 9.1% during the 4th quarter. Berkshire Asset Management LLC PA now owns 293,092 shares of the real estate investment trust’s stock valued at $20,194,000 after buying an additional 24,344 shares in the last quarter. IFP Advisors Inc lifted its position in shares of W.P. Carey Inc. REIT by 6.7% during the 4th quarter. IFP Advisors Inc now owns 48,185 shares of the real estate investment trust’s stock valued at $3,320,000 after buying an additional 3,046 shares in the last quarter. Northstar Investment Advisors LLC lifted its position in shares of W.P. Carey Inc. REIT by 2.9% during the 4th quarter. Northstar Investment Advisors LLC now owns 137,467 shares of the real estate investment trust’s stock valued at $9,471,000 after buying an additional 3,914 shares in the last quarter. Krueger & Catalano Capital Partners LLC purchased a new position in shares of W.P. Carey Inc. REIT during the 4th quarter valued at approximately $639,000. Finally, Griffin Asset Management Inc. purchased a new position in shares of W.P. Carey Inc. REIT during the 3rd quarter valued at approximately $602,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.
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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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