Shares of WP Carey Inc (NYSE:WPC) have been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $74.31.
WPC has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of UBISOFT ENTMT S/ADR in a research note on Friday, June 7th. They set a “buy” rating on the stock. Evercore ISI lowered shares of Essex Property Trust from an “outperform” rating to an “in-line” rating in a research note on Monday, April 1st. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Andeavor Logistics in a research note on Wednesday, May 8th.
A number of hedge funds have recently made changes to their positions in the business. Valley National Advisers Inc. acquired a new stake in shares of WP Carey in the fourth quarter valued at approximately $25,000. Centaurus Financial Inc. raised its holdings in shares of WP Carey by 65.4% in the first quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 811 shares during the last quarter. Executive Wealth Management LLC acquired a new stake in shares of WP Carey in the fourth quarter valued at approximately $35,000. Baystate Wealth Management LLC raised its holdings in shares of WP Carey by 22.5% in the first quarter. Baystate Wealth Management LLC now owns 785 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 144 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of WP Carey in the first quarter valued at approximately $63,000. Hedge funds and other institutional investors own 53.93% of the company’s stock.
Shares of NYSE WPC traded up $0.60 during mid-day trading on Wednesday, hitting $84.93. The company’s stock had a trading volume of 41,738 shares, compared to its average volume of 1,070,558. The stock has a market capitalization of $14.43 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 5.87 and a beta of 0.47. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.86. WP Carey has a one year low of $62.12 and a one year high of $86.41. The company has a fifty day simple moving average of $83.76.
WP Carey (NYSE:WPC) last issued its earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. WP Carey had a net margin of 44.84% and a return on equity of 8.12%. The company had revenue of $298.30 million for the quarter, compared to analyst estimates of $304.42 million. During the same quarter last year, the firm earned $0.72 EPS. The company’s revenue for the quarter was up 47.8% on a year-over-year basis. On average, equities research analysts anticipate that WP Carey will post 4.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.034 per share. This is an increase from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 annualized dividend and a yield of 4.87%. The ex-dividend date is Thursday, June 27th. WP Carey’s dividend payout ratio (DPR) is 76.81%.
WP Carey Company Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
Further Reading: Capital Gains
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