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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. “
WPC has been the subject of several other research reports. BMO Capital Markets initiated coverage on shares of WP Carey in a research report on Friday, October 25th. They set an outperform rating for the company. ValuEngine cut WP Carey from a buy rating to a hold rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $77.00.
Shares of WPC stock traded down $0.68 during trading hours on Friday, hitting $84.46. 621,950 shares of the company were exchanged, compared to its average volume of 825,606. The firm has a market cap of $14.62 billion, a P/E ratio of 15.67, a P/E/G ratio of 6.57 and a beta of 0.43. WP Carey has a fifty-two week low of $63.76 and a fifty-two week high of $93.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.35 and a current ratio of 0.67. The company has a 50 day simple moving average of $90.53 and a two-hundred day simple moving average of $85.86.
WP Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.91). The company had revenue of $318.01 million for the quarter, compared to analyst estimates of $317.44 million. WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The business’s quarterly revenue was up 51.9% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. As a group, sell-side analysts expect that WP Carey will post 4.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.036 dividend. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Friday, September 27th. WP Carey’s dividend payout ratio (DPR) is currently 76.81%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. First Allied Advisory Services Inc. lifted its holdings in shares of WP Carey by 1.1% in the 3rd quarter. First Allied Advisory Services Inc. now owns 32,607 shares of the real estate investment trust’s stock worth $2,917,000 after purchasing an additional 347 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of WP Carey by 7.8% in the 3rd quarter. Cetera Advisors LLC now owns 39,976 shares of the real estate investment trust’s stock worth $3,584,000 after purchasing an additional 2,902 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of WP Carey by 2.7% in the 3rd quarter. Cetera Advisor Networks LLC now owns 15,475 shares of the real estate investment trust’s stock worth $1,384,000 after purchasing an additional 405 shares in the last quarter. Insight Wealth Strategies LLC bought a new position in shares of WP Carey in the 3rd quarter worth $298,000. Finally, Wellington Shields Capital Management LLC lifted its holdings in shares of WP Carey by 17.5% in the 3rd quarter. Wellington Shields Capital Management LLC now owns 48,337 shares of the real estate investment trust’s stock worth $4,326,000 after purchasing an additional 7,191 shares in the last quarter. Institutional investors own 57.77% 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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