BidaskClub Lowers W.P. Carey Inc. (NYSE:WPC) to Buy
W.P. Carey Inc. (NYSE:WPC) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.
Other analysts have also recently issued research reports about the stock. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research note on Friday, June 16th. Wells Fargo & Company reiterated a “market perform” rating and issued a $69.00 price objective (up previously from $59.50) on shares of W.P. Carey in a research note on Friday, June 16th. ValuEngine cut shares of W.P. Carey from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Evercore ISI cut shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $67.75.
W.P. Carey (NYSE:WPC) traded down 0.44% on Thursday, reaching $66.17. 29,068 shares of the company’s stock were exchanged. W.P. Carey has a 1-year low of $55.77 and a 1-year high of $69.73. The company has a market capitalization of $7.07 billion, a P/E ratio of 25.48 and a beta of 0.88. The firm has a 50-day moving average price of $67.36 and a 200-day moving average price of $64.28.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by $0.56. W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The company had revenue of $221.52 million during the quarter, compared to analyst estimates of $221.19 million. During the same quarter last year, the business earned $1.24 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts expect that W.P. Carey will post $2.23 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. CIBC World Markets Inc. acquired a new position in W.P. Carey during the second quarter valued at $699,000. Schroder Investment Management Group acquired a new position in W.P. Carey during the second quarter valued at $128,000. Ffcm LLC increased its position in W.P. Carey by 179.3% in the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 1,092 shares during the period. Oppenheimer & Co. Inc. acquired a new position in W.P. Carey during the second quarter valued at $208,000. Finally, Swiss National Bank increased its position in W.P. Carey by 6.0% in the second quarter. Swiss National Bank now owns 177,051 shares of the real estate investment trust’s stock valued at $11,687,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.
W.P. Carey Company Profile
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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