Comerica Bank increased its stake in W. P. Carey Inc. (NYSE:WPC – Get Rating) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,995 shares of the real estate investment trust’s stock after purchasing an additional 197 shares during the quarter. Comerica Bank’s holdings in W. P. Carey were worth $685,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of WPC. Outfitter Financial LLC acquired a new stake in shares of W. P. Carey during the 4th quarter valued at about $25,000. Gibson Wealth Advisors LLC bought a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $36,000. City State Bank bought a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $42,000. Desjardins Global Asset Management Inc. bought a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $46,000. Finally, National Bank of Canada FI bought a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 58.86% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Raymond James upped their price target on W. P. Carey from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 8th. Wolfe Research started coverage on W. P. Carey in a report on Monday, June 27th. They issued a “market perform” rating and a $88.00 price target for the company. Evercore ISI set a $89.00 price objective on W. P. Carey in a report on Monday, June 20th. JMP Securities started coverage on W. P. Carey in a research report on Tuesday, May 10th. They issued an “outperform” rating and a $87.00 price objective for the company. Finally, StockNews.com lowered W. P. Carey from a “buy” rating to a “hold” rating in a research note on Wednesday, June 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.20.
W. P. Carey Stock Up 5.3 %
W. P. Carey (NYSE:WPC – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.39. The company had revenue of $344.10 million for the quarter, compared to the consensus estimate of $340.96 million. W. P. Carey had a return on equity of 6.88% and a net margin of 37.65%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. Equities research analysts predict that W. P. Carey Inc. will post 5.08 earnings per share for the current year.
W. P. Carey Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $1.059 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 4.74%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.06. The ex-dividend date was Wednesday, June 29th. W. P. Carey’s payout ratio is presently 153.62%.
About W. P. Carey
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.
- Get a free copy of the StockNews.com research report on W. P. Carey (WPC)
- Procter’s Earnings Start To Show Weakness In Q4
- MarketBeat: Week in Review 7/25 – 7/29
- The One Question You Have to Ask Before Investing in INTC Stock
- Home Depot: A Beautiful Boring Stock to Navigate a Bear Market
- Could CRISPR Therapeutics be a Moonshot Hiding in Plain Sight?
Receive News & Ratings for W. P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.