WP Carey (NYSE:WPC) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of WP Carey (NYSE:WPC) from a sell rating to a hold rating in a research note released on Thursday, Zacks.com reports.

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. “

WPC has been the topic of a number of other research reports. ValuEngine lowered shares of WP Carey from a buy rating to a hold rating in a research report on Friday, August 2nd. BMO Capital Markets started coverage on shares of WP Carey in a research report on Friday, October 25th. They issued an outperform rating on the stock. Finally, Evercore ISI upgraded shares of WP Carey from an underperform rating to an in-line rating and set a $88.00 target price on the stock in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $79.75.

NYSE WPC opened at $83.42 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 6.69 and a beta of 0.43. The firm’s 50 day simple moving average is $88.13 and its 200 day simple moving average is $86.47. WP Carey has a 1 year low of $63.76 and a 1 year high of $93.62.

WP Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.91). The firm had revenue of $318.01 million for the quarter, compared to analyst estimates of $317.44 million. WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The business’s revenue was up 51.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. On average, equities research analysts forecast that WP Carey will post 4.86 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Lenox Wealth Advisors LLC acquired a new stake in WP Carey in the third quarter valued at approximately $26,000. Manchester Financial Inc. acquired a new stake in WP Carey in the second quarter valued at approximately $32,000. Parkside Financial Bank & Trust raised its stake in shares of WP Carey by 406.3% during the second quarter. Parkside Financial Bank & Trust now owns 400 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 321 shares during the last quarter. TD Capital Management LLC bought a new position in shares of WP Carey during the second quarter valued at $45,000. Finally, 1 North Wealth Services LLC bought a new position in shares of WP Carey during the third quarter valued at $50,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

WP Carey Company Profile

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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