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. “
Several other equities research analysts have also recently issued reports on WPC. ValuEngine cut shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Citigroup upgraded shares of WP Carey from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $59.00 to $81.00 in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. WP Carey has an average rating of “Hold” and an average price target of $77.00.
Shares of WP Carey stock traded up $1.21 on Friday, hitting $90.14. 1,421,388 shares of the company traded hands, compared to its average volume of 557,078. The stock has a market capitalization of $15.11 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 6.66 and a beta of 0.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.35 and a current ratio of 0.35. WP Carey has a 52 week low of $62.12 and a 52 week high of $92.06. The business has a 50-day simple moving average of $87.97 and a 200 day simple moving average of $82.60.
WP Carey (NYSE:WPC) last released its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.85). The company had revenue of $305.21 million for the quarter, compared to the consensus estimate of $303.23 million. WP Carey had a net margin of 38.36% and a return on equity of 6.72%. During the same quarter in the previous year, the business earned $0.60 EPS. Research analysts expect that WP Carey will post 4.9 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Centaurus Financial Inc. increased its position in 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 worth $26,000 after purchasing an additional 811 shares during the last quarter. Ausdal Financial Partners Inc. increased its position in WP Carey by 14.6% in the second quarter. Ausdal Financial Partners Inc. now owns 7,056 shares of the real estate investment trust’s stock worth $610,000 after purchasing an additional 901 shares during the last quarter. Eldridge Investment Advisors Inc. increased its position in WP Carey by 3.2% in the second quarter. Eldridge Investment Advisors Inc. now owns 12,725 shares of the real estate investment trust’s stock worth $1,033,000 after purchasing an additional 400 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in WP Carey by 4.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 184,368 shares of the real estate investment trust’s stock worth $14,442,000 after purchasing an additional 7,718 shares during the last quarter. Finally, DNB Asset Management AS increased its position in WP Carey by 2.0% in the second quarter. DNB Asset Management AS now owns 17,110 shares of the real estate investment trust’s stock worth $1,389,000 after purchasing an additional 337 shares during the last quarter. Institutional investors own 56.33% 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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