WP Carey (WPC) Sets New 12-Month High at $74.80

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Shares of WP Carey Inc (NYSE:WPC) reached a new 52-week high during trading on Thursday . The company traded as high as $74.80 and last traded at $74.76, with a volume of 13985 shares traded. The stock had previously closed at $74.14.

A number of analysts recently commented on the company. ValuEngine upgraded WP Carey from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. Finally, JPMorgan Chase & Co. assumed coverage on WP Carey in a research report on Wednesday, December 19th. They set a “neutral” rating and a $73.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $70.81.

The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market cap of $11.88 billion, a P/E ratio of 14.09 and a beta of 0.54.

WP Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, beating the consensus estimate of $1.40 by $0.08. The company had revenue of $209.40 million during the quarter, compared to analysts’ expectations of $215.47 million. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. On average, analysts forecast that WP Carey Inc will post 5.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were issued a $1.03 dividend. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, December 28th. This represents a $4.12 annualized dividend and a yield of 5.50%. WP Carey’s payout ratio is 77.74%.

In other WP Carey news, Director Jean Hoysradt purchased 2,300 shares of the stock in a transaction on Tuesday, November 6th. The stock was bought at an average price of $64.73 per share, for a total transaction of $148,879.00. Following the acquisition, the director now directly owns 9,255 shares of the company’s stock, valued at $599,076.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher Niehaus purchased 3,850 shares of the stock in a transaction on Tuesday, November 13th. The stock was acquired at an average price of $66.08 per share, with a total value of $254,408.00. The disclosure for this purchase can be found here. 1.56% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. lifted its stake in shares of WP Carey by 2.5% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 6,144 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 150 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its stake in shares of WP Carey by 53.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 512 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 178 shares in the last quarter. Camarda Financial Advisors LLC lifted its stake in shares of WP Carey by 41.2% in the 4th quarter. Camarda Financial Advisors LLC now owns 1,038 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 303 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of WP Carey by 10.1% in the 4th quarter. Wedbush Securities Inc. now owns 4,115 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 376 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of WP Carey by 7.6% in the 4th quarter. Raymond James Trust N.A. now owns 6,533 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 462 shares in the last quarter. 32.69% of the stock is currently owned by institutional investors and hedge funds.

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WP Carey Company Profile (NYSE:WPC)

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.

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