W.P. Carey Inc. (WPC) Shares Down 1.9%
W.P. Carey Inc. (NYSE:WPC) traded down 1.9% during mid-day trading on Thursday . The stock traded as low as $68.44 and last traded at $68.50, with a volume of 135,590 shares. The stock had previously closed at $69.80.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of W.P. Carey from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. BMO Capital Markets raised shares of W.P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $81.00 in a research note on Thursday, July 21st. They noted that the move was a valuation call. Citigroup Inc. raised their price target on shares of W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a research note on Thursday, July 7th. Finally, TheStreet raised shares of W.P. Carey from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $71.63.
The firm has a market cap of $7.26 billion and a PE ratio of 40.39. The company’s 50-day moving average is $70.05 and its 200-day moving average is $63.38.
W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.59 by $0.65. During the same quarter last year, the firm posted $1.31 earnings per share. The business earned $198.80 million during the quarter, compared to the consensus estimate of $184.64 million. W.P. Carey’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect 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. Investors of record on Thursday, June 30th were paid a $0.98 dividend. The ex-dividend date was Tuesday, June 28th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.97. This represents a $3.92 dividend on an annualized basis and a yield of 5.71%.
Other institutional investors recently modified their holdings of the company. Mizuho Trust & Banking Co. Ltd. boosted its position in 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 during the period. Dimensional Fund Advisors LP boosted its position in W.P. Carey by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,228,573 shares of the company’s stock valued at $72,487,000 after buying an additional 155,487 shares during the period. KBC Group NV boosted its position in W.P. Carey by 19.8% in the fourth quarter. KBC Group NV now owns 25,363 shares of the company’s stock valued at $1,496,000 after buying an additional 4,190 shares during the period. Finally, Utah Retirement Systems boosted its position in W.P. Carey by 0.5% in the fourth quarter. Utah Retirement Systems now owns 21,520 shares of the company’s stock valued at $1,269,000 after buying an additional 100 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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