W.P. Carey Inc. (WPC) Rating Increased to Hold at Zacks Investment Research
W.P. Carey Inc. (NYSE:WPC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 equities analysts have also recently issued reports on WPC. BMO Capital Markets restated a “buy” rating and issued a $81.00 price target on shares of W.P. Carey in a research report on Friday, September 23rd. Wells Fargo & Co. restated a “hold” rating on shares of W.P. Carey in a research report on Sunday, September 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. W.P. Carey has an average rating of “Hold” and a consensus price target of $71.63.
Shares of W.P. Carey (NYSE:WPC) traded down 1.1105% during trading on Wednesday, hitting $58.7799. 53,720 shares of the stock were exchanged. The stock has a market cap of $6.25 billion, a P/E ratio of 23.2332 and a beta of 0.90. The firm’s 50 day moving average price is $59.84 and its 200-day moving average price is $65.30. W.P. Carey has a 52 week low of $51.12 and a 52 week high of $72.89.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.17. W.P. Carey had a net margin of 30.17% and a return on equity of 7.71%. The business earned $204.20 million during the quarter, compared to analyst estimates of $176.33 million. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that W.P. Carey will post $2.68 EPS for the current year.
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In related news, Director Mary M. Vandeweghe bought 940 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average cost of $58.67 per share, with a total value of $55,149.80. Following the completion of the purchase, the director now directly owns 7,484 shares in the company, valued at $439,086.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Alexander bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were bought at an average cost of $57.73 per share, for a total transaction of $230,920.00. Following the completion of the purchase, the director now owns 4,000 shares of the company’s stock, valued at $230,920. The disclosure for this purchase can be found here. 1.68% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of W.P. Carey by 3,189.1% in the third quarter. Advisors Asset Management Inc. now owns 1,809 shares of the company’s stock valued at $117,000 after buying an additional 1,754 shares in the last quarter. Salem Investment Counselors Inc. bought a new position in shares of W.P. Carey during the third quarter valued at about $124,000. AllSquare Wealth Management LLC raised its position in shares of W.P. Carey by 11.1% in the second quarter. AllSquare Wealth Management LLC now owns 2,000 shares of the company’s stock valued at $139,000 after buying an additional 200 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of W.P. Carey by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 2,458 shares of the company’s stock valued at $171,000 after buying an additional 80 shares in the last quarter. Finally, Logan Capital Management Inc. bought a new position in shares of W.P. Carey during the second quarter valued at about $201,000. 48.51% of the stock is currently owned by institutional investors and hedge funds.
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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