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. “
Other analysts have also recently issued research reports about the stock. Wells Fargo & Co increased their price target on shares of WP Carey from $64.00 to $77.00 and gave the company an overweight rating in a research note on Wednesday, June 10th. 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 report on Tuesday, April 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $74.25.
Shares of WPC stock opened at $67.65 on Friday. The stock has a market cap of $11.44 billion, a P/E ratio of 38.66 and a beta of 0.76. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.40 and a quick ratio of 0.40. The company has a fifty day moving average price of $64.59 and a two-hundred day moving average price of $71.48. WP Carey has a one year low of $38.62 and a one year high of $93.62.
WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, May 1st. The real estate investment trust reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.06. The firm had revenue of $294.60 million during the quarter, compared to analysts’ expectations of $278.30 million. WP Carey had a net margin of 24.64% and a return on equity of 4.38%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. As a group, equities research analysts anticipate that WP Carey will post 4.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $1.042 dividend. The ex-dividend date of this dividend is Monday, June 29th. This is a positive change from WP Carey’s previous quarterly dividend of $1.04. This represents a $4.17 annualized dividend and a dividend yield of 6.16%. WP Carey’s dividend payout ratio is presently 83.20%.
In other WP Carey news, Director Mark A. Alexander purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $61.84 per share, with a total value of $247,360.00. Following the completion of the transaction, the director now owns 18,878 shares in the company, valued at $1,167,415.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.09% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Bainco International Investors bought a new position in WP Carey during the first quarter worth about $76,000. Franklin Resources Inc. increased its holdings in WP Carey by 16.5% in the 1st quarter. Franklin Resources Inc. now owns 62,293 shares of the real estate investment trust’s stock valued at $3,618,000 after buying an additional 8,813 shares during the period. Great West Life Assurance Co. Can increased its holdings in WP Carey by 11.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 170,397 shares of the real estate investment trust’s stock valued at $13,534,000 after buying an additional 17,288 shares during the period. Two Sigma Advisers LP increased its holdings in WP Carey by 53.8% in the 1st quarter. Two Sigma Advisers LP now owns 130,300 shares of the real estate investment trust’s stock valued at $7,568,000 after buying an additional 45,600 shares during the period. Finally, Pensionfund Sabic increased its holdings in WP Carey by 81.4% in the 1st quarter. Pensionfund Sabic now owns 12,700 shares of the real estate investment trust’s stock valued at $738,000 after buying an additional 5,700 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.
WP Carey Company Profile
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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