W. P. Carey Inc. (NYSE:WPC) Receives $86.80 Average Target Price from Analysts

Shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $86.80.

A number of equities research analysts have issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $86.00 target price on shares of W. P. Carey in a research note on Tuesday, March 21st. StockNews.com assumed coverage on shares of W. P. Carey in a research note on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada lifted their target price on shares of W. P. Carey from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. Finally, 92 Resources reissued a “maintains” rating on shares of W. P. Carey in a research note on Monday, May 1st.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were purchased at an average price of $72.48 per share, for a total transaction of $72,480.00. Following the acquisition, the director now directly owns 26,118 shares of the company’s stock, valued at approximately $1,893,032.64. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its position in shares of W. P. Carey by 104,493.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock valued at $360,716,000 after acquiring an additional 4,611,275 shares in the last quarter. Norges Bank acquired a new stake in shares of W. P. Carey during the 4th quarter valued at about $174,406,000. JPMorgan Chase & Co. boosted its position in shares of W. P. Carey by 46.1% during the 1st quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock valued at $507,966,000 after acquiring an additional 2,068,458 shares in the last quarter. State Street Corp boosted its position in shares of W. P. Carey by 17.1% during the 1st quarter. State Street Corp now owns 9,572,789 shares of the real estate investment trust’s stock valued at $783,467,000 after acquiring an additional 1,400,997 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of W. P. Carey by 248.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,782,450 shares of the real estate investment trust’s stock valued at $41,107,000 after acquiring an additional 1,270,889 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.

W. P. Carey Trading Down 0.9 %

W. P. Carey stock opened at $67.29 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 8.68 and a beta of 0.77. W. P. Carey has a 1 year low of $66.76 and a 1 year high of $89.63. The firm’s 50 day moving average price is $73.26 and its two-hundred day moving average price is $78.30.

W. P. Carey (NYSE:WPC – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.12. W. P. Carey had a net margin of 47.26% and a return on equity of 8.47%. The firm had revenue of $427.80 million for the quarter, compared to analyst estimates of $406.24 million. During the same quarter in the previous year, the business posted $1.35 earnings per share. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, research analysts predict that W. P. Carey will post 5.18 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were paid a $1.067 dividend. This represents a $4.27 annualized dividend and a dividend yield of 6.34%. The ex-dividend date was Thursday, March 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.07. W. P. Carey’s payout ratio is presently 119.94%.

About W. P. Carey

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W.P. Carey, Inc is an investment trust company, which engages in the commercial real estate business. It operates through the Real Estate and Investment Management segments. The Real Estate segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for real estate investment trusts, and manages portfolios of real estate investments.