W.P. Carey Inc. (WPC) Trading Down 1.9%
Shares of W.P. Carey Inc. (NYSE:WPC) fell 1.9% on Thursday . The stock traded as low as $68.44 and last traded at $68.50, with a volume of 135,590 shares traded. The stock had previously closed at $69.80.
Several research firms have weighed in on WPC. Zacks Investment Research raised shares of W.P. Carey from a “hold” rating to a “strong-buy” rating and set a $74.00 price target for the company in a research note on Wednesday, May 25th. TheStreet raised shares of W.P. Carey from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Citigroup Inc. upped their price objective on shares of W.P. Carey from $54.00 to $59.00 and gave the company a “sell” rating in a research note on Thursday, July 7th. Finally, BMO Capital Markets raised shares of W.P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $81.00 in a research note on Thursday, July 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. W.P. Carey currently has a consensus rating of “Hold” and an average target price of $71.63.
The stock’s 50-day moving average is $70.04 and its 200 day moving average is $63.47. The company has a market cap of $7.26 billion and a P/E ratio of 40.36.
W.P. Carey (NYSE:WPC) last posted its earnings results on Thursday, August 4th. The company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.65. The company had revenue of $198.80 million for the quarter, compared to analysts’ expectations of $184.64 million. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. On average, equities analysts forecast that W.P. Carey Inc. will post $2.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend 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 annualized dividend and a yield of 5.71%.
Other institutional investors recently bought and sold shares of the company. 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 last quarter. KBC Group NV boosted its position in shares of 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 last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $72,487,000 after buying an additional 155,487 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position 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 worth $1,092,000 after buying an additional 434 shares during the last quarter.
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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