W.P. Carey Inc. (WPC) Sets New 12-Month High at $70.60
W.P. Carey Inc. (NYSE:WPC)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $70.60 and last traded at $70.42, with a volume of 153,004 shares changing hands. The stock had previously closed at $70.02.
Several equities analysts have recently commented on WPC shares. TheStreet upgraded W.P. Carey from a “hold” rating to a “buy” rating in a research report on Thursday, May 5th. BMO Capital Markets restated a “hold” rating on shares of W.P. Carey in a research report on Thursday, June 23rd. Citigroup Inc. boosted their target price on W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a research report on Thursday, July 7th. Finally, Zacks Investment Research upgraded W.P. Carey from a “hold” rating to a “strong-buy” rating and set a $74.00 target price on the stock in a research report on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $69.63.
The stock has a market cap of $7.51 billion and a P/E ratio of 39.58. The company has a 50 day moving average price of $68.61 and a 200-day moving average price of $62.08.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.87. The company had revenue of $244.20 million for the quarter, compared to analyst estimates of $177.19 million. During the same period in the prior year, the business posted $1.22 earnings per share. Analysts anticipate that W.P. Carey Inc. will post $2.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.98 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.97. This represents a $3.92 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend was Tuesday, June 28th.
In related news, Director Mary M. Vandeweghe purchased 1,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $63.08 per share, with a total value of $63,080.00. Following the transaction, the director now owns 5,389 shares of the company’s stock, valued at $339,938.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of large investors recently made changes to their positions in the company. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of W.P. Carey by 2.4% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 18,308 shares of the company’s stock valued at $1,092,000 after buying an additional 434 shares in the last quarter. KBC Group NV boosted its stake in W.P. Carey by 19.8% in the fourth quarter. KBC Group NV now owns 25,363 shares of the company’s stock worth $1,496,000 after buying an additional 4,190 shares during the period. ProShare Advisors LLC boosted its stake in W.P. Carey by 12.0% in the fourth quarter. ProShare Advisors LLC now owns 35,084 shares of the company’s stock worth $2,070,000 after buying an additional 3,747 shares during the period. Rench Wealth Management Inc. boosted its stake in W.P. Carey by 14.6% in the fourth quarter. Rench Wealth Management Inc. now owns 48,322 shares of the company’s stock worth $2,851,000 after buying an additional 6,150 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in W.P. Carey by 4.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 52,488 shares of the company’s stock worth $3,097,000 after buying an additional 2,088 shares during the period.
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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