WP Carey (NYSE:WPC) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
WPC has been the subject of several other reports. Zacks Investment Research downgraded shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Bank of America boosted their price objective on shares of WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a research report on Monday, August 13th. Finally, Wells Fargo & Co boosted their price objective on shares of WP Carey from $65.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $71.81.
Shares of WPC opened at $63.15 on Thursday. WP Carey has a one year low of $59.23 and a one year high of $72.41. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 11.92 and a beta of 0.66. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.19 and a quick ratio of 0.19.
WP Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, August 3rd. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.50). WP Carey had a net margin of 38.18% and a return on equity of 8.51%. The firm had revenue of $201.14 million for the quarter, compared to analyst estimates of $213.21 million. During the same quarter in the prior year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that WP Carey will post 5.26 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Resource America Inc. increased its holdings in shares of WP Carey by 95.7% during the second quarter. Resource America Inc. now owns 49,314 shares of the real estate investment trust’s stock worth $3,272,000 after buying an additional 24,117 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of WP Carey by 140.3% during the second quarter. First Trust Advisors LP now owns 50,434 shares of the real estate investment trust’s stock worth $3,346,000 after buying an additional 29,448 shares in the last quarter. Zacks Investment Management increased its holdings in shares of WP Carey by 7.9% during the second quarter. Zacks Investment Management now owns 55,047 shares of the real estate investment trust’s stock worth $3,652,000 after buying an additional 4,036 shares in the last quarter. Raymond James & Associates increased its holdings in shares of WP Carey by 1.3% during the second quarter. Raymond James & Associates now owns 106,476 shares of the real estate investment trust’s stock worth $7,065,000 after buying an additional 1,365 shares in the last quarter. Finally, Bank of Hawaii acquired a new position in shares of WP Carey during the second quarter worth $245,000. Institutional investors own 48.84% of the company’s stock.
About WP Carey
W.P. Carey, Inc is a real estate investment trust. It operates through two segment: Real Estate Ownership and Investment Management. The Real Estate Ownership segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for the real estate investment trusts, and manages portfolios of real estate investments.
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