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. “
A number of other analysts have also issued reports on the stock. Citigroup dropped their price objective on shares of WP Carey from $83.00 to $52.00 and set a neutral rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Co increased their target price on shares of WP Carey from $64.00 to $77.00 and gave the stock an overweight rating in a research report on Wednesday, June 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $74.25.
Shares of WPC stock opened at $66.87 on Friday. The business’s 50 day moving average is $64.51 and its two-hundred day moving average is $71.55. WP Carey has a twelve month low of $38.62 and a twelve month high of $93.62. The company has a market capitalization of $11.21 billion, a P/E ratio of 38.21 and a beta of 0.76. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.89.
WP Carey (NYSE:WPC) last announced its earnings results on Friday, May 1st. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.06. WP Carey had a return on equity of 4.38% and a net margin of 24.64%. The company had revenue of $294.60 million for the quarter, compared to the consensus estimate of $278.30 million. During the same period last year, the business posted $0.41 EPS. The company’s revenue was down 1.2% on a year-over-year basis. As a group, equities analysts predict that WP Carey will post 4.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.042 dividend. This represents a $4.17 annualized dividend and a yield of 6.23%. The ex-dividend date is Monday, June 29th. This is an increase from WP Carey’s previous quarterly dividend of $1.04. WP Carey’s dividend payout ratio (DPR) is 83.20%.
In other news, Director Mark A. Alexander bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $61.84 per share, for a total transaction of $247,360.00. Following the acquisition, the director now directly owns 18,878 shares of the company’s stock, valued at approximately $1,167,415.52. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of WPC. Quadrant Capital Group LLC grew its position in WP Carey by 510.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,114 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 2,604 shares during the last quarter. Victory Capital Management Inc. grew its position in WP Carey by 11.6% in the 4th quarter. Victory Capital Management Inc. now owns 105,723 shares of the real estate investment trust’s stock worth $8,462,000 after purchasing an additional 10,971 shares during the last quarter. FMR LLC grew its position in WP Carey by 8.3% in the 4th quarter. FMR LLC now owns 12,275 shares of the real estate investment trust’s stock worth $982,000 after purchasing an additional 941 shares during the last quarter. Quantbot Technologies LP acquired a new stake in WP Carey in the 4th quarter worth $79,000. Finally, RB Capital Management LLC acquired a new stake in WP Carey in the 4th quarter worth $243,000. Institutional investors own 58.96% of the company’s stock.
About WP Carey
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.
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