WP Carey Inc (NYSE:WPC) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $67.63.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut WP Carey from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Bank of America boosted their target price on WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a report on Monday, August 13th. Finally, ValuEngine upgraded WP Carey from a “sell” rating to a “hold” rating in a report on Thursday, October 11th.
In related news, Director Christopher Niehaus bought 3,850 shares of the stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average cost of $66.08 per share, for a total transaction of $254,408.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jean Hoysradt acquired 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average price of $64.73 per share, for a total transaction of $148,879.00. Following the completion of the acquisition, the director now directly owns 9,255 shares of the company’s stock, valued at approximately $599,076.15. The disclosure for this purchase can be found here. Insiders own 1.56% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPC. Principal Financial Group Inc. lifted its holdings in WP Carey by 8.9% in the first quarter. Principal Financial Group Inc. now owns 17,924 shares of the real estate investment trust’s stock valued at $1,111,000 after acquiring an additional 1,460 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in WP Carey by 30.0% in the second quarter. Xact Kapitalforvaltning AB now owns 9,523 shares of the real estate investment trust’s stock valued at $632,000 after acquiring an additional 2,200 shares during the last quarter. Bank of Montreal Can acquired a new position in WP Carey in the second quarter valued at approximately $2,904,000. Nisa Investment Advisors LLC acquired a new position in WP Carey in the second quarter valued at approximately $219,000. Finally, Cornerstone Wealth Management LLC acquired a new position in WP Carey in the second quarter valued at approximately $995,000. Hedge funds and other institutional investors own 32.32% of the company’s stock.
WPC stock traded down $0.04 during trading on Monday, hitting $67.75. The stock had a trading volume of 4,619,412 shares, compared to its average volume of 2,565,302. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.21. WP Carey has a twelve month low of $59.23 and a twelve month high of $71.64. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 12.78 and a beta of 0.55.
WP Carey (NYSE:WPC) last issued its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.08. The business had revenue of $209.40 million for the quarter, compared to analysts’ expectations of $215.47 million. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, equities analysts forecast that WP Carey will post 5.25 EPS for the current fiscal year.
WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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