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 weighed in on WPC. 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 shares of WP Carey from a buy rating to a hold rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $77.00.
WP Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.91). WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The firm had revenue of $318.01 million for the quarter, compared to the consensus estimate of $317.44 million. During the same period in the prior year, the company earned $0.70 EPS. The company’s revenue for the quarter was up 51.9% compared to the same quarter last year. Equities research analysts expect that WP Carey will post 4.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.036 per share. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, September 27th. This represents a $4.14 annualized dividend and a yield of 4.91%. WP Carey’s dividend payout ratio is currently 76.81%.
Several hedge funds have recently bought and sold shares of the company. First Allied Advisory Services Inc. lifted its holdings in shares of WP Carey by 1.1% in the third quarter. First Allied Advisory Services Inc. now owns 32,607 shares of the real estate investment trust’s stock worth $2,917,000 after acquiring an additional 347 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of WP Carey by 7.8% in the third quarter. Cetera Advisors LLC now owns 39,976 shares of the real estate investment trust’s stock worth $3,584,000 after acquiring an additional 2,902 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of WP Carey by 2.7% in the third quarter. Cetera Advisor Networks LLC now owns 15,475 shares of the real estate investment trust’s stock worth $1,384,000 after acquiring an additional 405 shares during the last quarter. Insight Wealth Strategies LLC bought a new position in shares of WP Carey in the third quarter worth about $298,000. Finally, Wellington Shields Capital Management LLC lifted its holdings in shares of WP Carey by 17.5% in the third quarter. Wellington Shields Capital Management LLC now owns 48,337 shares of the real estate investment trust’s stock worth $4,326,000 after acquiring an additional 7,191 shares during the last quarter. 57.77% of the stock is owned by hedge funds and other institutional investors.
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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