Brokerages Set W.P. Carey Inc. (WPC) PT at $68.17
Shares of W.P. Carey Inc. (NYSE:WPC) have been given a consensus rating of “Hold” by the eight analysts that are covering the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $68.17.
A number of equities analysts have recently issued reports on WPC shares. BMO Capital Markets reissued a “buy” rating and issued a $81.00 target price on shares of W.P. Carey in a report on Friday, September 23rd. Wells Fargo & Co. reaffirmed a “hold” rating on shares of W.P. Carey in a report on Sunday, September 25th. Zacks Investment Research cut W.P. Carey from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Finally, Citigroup Inc. raised their price target on W.P. Carey from $54.00 to $59.00 and gave the company a “sell” rating in a report on Thursday, July 7th.
A number of large investors have recently added to or reduced their stakes in WPC. Pennsylvania Trust Co boosted its stake in W.P. Carey by 6.4% in the third quarter. Pennsylvania Trust Co now owns 18,307 shares of the company’s stock valued at $1,181,000 after buying an additional 1,100 shares during the last quarter. MSI Financial Services Inc boosted its stake in W.P. Carey by 41.6% in the third quarter. MSI Financial Services Inc now owns 8,414 shares of the company’s stock valued at $543,000 after buying an additional 2,470 shares during the last quarter. Creative Planning boosted its stake in W.P. Carey by 49.1% in the third quarter. Creative Planning now owns 24,197 shares of the company’s stock valued at $1,561,000 after buying an additional 7,965 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its stake in W.P. Carey by 5.0% in the third quarter. Mitchell Sinkler & Starr PA now owns 6,300 shares of the company’s stock valued at $407,000 after buying an additional 300 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in W.P. Carey by 3.0% in the third quarter. Fisher Asset Management LLC now owns 5,123 shares of the company’s stock valued at $331,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 47.85% of the company’s stock.
Shares of W.P. Carey (NYSE:WPC) opened at 62.25 on Friday. The stock has a 50 day moving average price of $64.61 and a 200 day moving average price of $65.80. W.P. Carey has a one year low of $51.12 and a one year high of $72.89. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 36.62 and a beta of 0.87.
W.P. Carey (NYSE:WPC) last issued its earnings results on Thursday, August 4th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ 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 earned $198.80 million during the quarter, compared to analysts’ expectations of $184.64 million. During the same period in the prior year, the firm posted $1.31 EPS. W.P. Carey’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that W.P. Carey will post $2.20 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, October 3rd were given a dividend of $0.985 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $3.94 dividend on an annualized basis and a yield of 6.33%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.98. W.P. Carey’s dividend payout ratio is currently 231.76%.
W.P. Carey Company Profile
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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