W. P. Carey (NYSE:WPC) Upgraded at StockNews.com

StockNews.com upgraded shares of W. P. Carey (NYSE:WPCGet Rating) from a hold rating to a buy rating in a research note released on Wednesday.

Several other brokerages also recently commented on WPC. Bank of America upgraded shares of W. P. Carey from an underperform rating to a neutral rating in a research report on Thursday, January 20th. Raymond James started coverage on shares of W. P. Carey in a research report on Thursday, April 14th. They set an outperform rating and a $90.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of W. P. Carey from a hold rating to a buy rating and set a $89.00 price target for the company in a report on Wednesday, March 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey has an average rating of Buy and a consensus target price of $89.00.

Shares of WPC stock opened at $79.78 on Wednesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.84. The stock has a market cap of $15.28 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 8.11 and a beta of 0.70. The stock has a 50 day simple moving average of $81.19 and a 200 day simple moving average of $79.20. W. P. Carey has a 1 year low of $71.72 and a 1 year high of $86.48.

W. P. Carey (NYSE:WPCGet Rating) last announced its quarterly earnings data on Friday, April 29th. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate of $0.43 by $0.39. W. P. Carey had a net margin of 37.65% and a return on equity of 6.94%. The business had revenue of $344.10 million during the quarter, compared to the consensus estimate of $340.96 million. During the same period in the previous year, the business earned $1.22 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. Analysts forecast that W. P. Carey will post 5.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were issued a $1.057 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 5.30%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Wednesday, March 30th. W. P. Carey’s dividend payout ratio is presently 153.26%.

A number of hedge funds and other institutional investors have recently bought and sold shares of WPC. Norges Bank acquired a new stake in W. P. Carey in the fourth quarter valued at $149,987,000. BlackRock Inc. increased its holdings in W. P. Carey by 5.4% in the fourth quarter. BlackRock Inc. now owns 14,112,099 shares of the real estate investment trust’s stock valued at $1,157,897,000 after purchasing an additional 722,076 shares during the period. State Street Corp increased its holdings in W. P. Carey by 8.0% in the fourth quarter. State Street Corp now owns 8,171,792 shares of the real estate investment trust’s stock valued at $678,980,000 after purchasing an additional 605,568 shares during the period. Renaissance Technologies LLC boosted its position in W. P. Carey by 8,087.2% during the fourth quarter. Renaissance Technologies LLC now owns 319,300 shares of the real estate investment trust’s stock valued at $26,199,000 after acquiring an additional 315,400 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in W. P. Carey by 1,199.8% during the third quarter. Allianz Asset Management GmbH now owns 288,780 shares of the real estate investment trust’s stock valued at $21,092,000 after acquiring an additional 266,563 shares during the last quarter. Institutional investors and hedge funds own 58.86% of the company’s stock.

W. P. Carey Company Profile (Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

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