Today: The Zacks Investment Research Lowers W.P. Carey Inc. (WPC) to Sell

The Zacks Investment Research Lowers W.P. Carey Inc. (WPC) to Sell

Zacks Investment Research downgraded shares of W.P. Carey Inc. (NYSE:WPC) from a hold rating to a sell rating in a report issued on Thursday morning.

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 research analysts have also recently commented on the stock. Wells Fargo & Co. reaffirmed a hold rating on shares of W.P. Carey in a research report on Sunday, September 25th. BMO Capital Markets reaffirmed a buy rating and issued a $81.00 target price on shares of W.P. Carey in a research report on Friday, September 23rd. Finally, Citigroup Inc. upped their target price on shares of W.P. Carey from $54.00 to $59.00 and gave the company a sell rating in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $71.63.

Shares of W.P. Carey (NYSE:WPC) opened at 61.74 on Thursday. W.P. Carey has a 12-month low of $51.12 and a 12-month high of $72.89. The stock has a 50 day moving average of $64.74 and a 200-day moving average of $65.79. The company has a market capitalization of $6.53 billion, a PE ratio of 36.32 and a beta of 0.87.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.65. The firm had revenue of $198.80 million for the quarter, compared to analysts’ expectations of $184.64 million. W.P. Carey had a net margin of 19.50% and a return on equity of 5.13%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. Analysts predict that W.P. Carey will post $2.20 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Monday, October 3rd were paid a dividend of $0.985 per share. The ex-dividend date was Thursday, September 29th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.98. This represents a $3.94 dividend on an annualized basis and a yield of 6.38%. W.P. Carey’s dividend payout ratio is 231.76%.

A number of hedge funds have recently modified their holdings of the company. AllSquare Wealth Management LLC raised its stake in shares of W.P. Carey by 11.1% in the second quarter. AllSquare Wealth Management LLC now owns 2,000 shares of the company’s stock worth $139,000 after buying an additional 200 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of W.P. Carey by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 2,458 shares of the company’s stock worth $171,000 after buying an additional 80 shares during the period. Logan Capital Management Inc. acquired a new stake in shares of W.P. Carey during the second quarter worth about $201,000. Carret Asset Management LLC acquired a new stake in shares of W.P. Carey during the second quarter worth about $206,000. Finally, Kempner Capital Management Inc. acquired a new stake in shares of W.P. Carey during the second quarter worth about $208,000. Institutional investors own 47.85% of the company’s stock.

About W.P. Carey

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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