W.P. Carey (NYSE:WPC) Stock Gets Price Target Cut from Citigroup

by · The Cerbat Gem

W.P. Carey (NYSE:WPC – Free Report) had its price target decreased by Citigroup from $75.00 to $67.00 in a research report report published on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also recently commented on WPC. Barclays dropped their target price on shares of W.P. Carey from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. UBS Group restated a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Scotiabank decreased their price objective on W.P. Carey from $76.00 to $68.00 and set a “sector perform” rating for the company in a research note on Thursday, September 24th. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Finally, Weiss Ratings downgraded W.P. Carey from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, W.P. Carey has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.

View Our Latest Stock Analysis on WPC

W.P. Carey Stock Down 1.2%

Shares of NYSE:WPC opened at $64.14 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.21 and a quick ratio of 0.22. The stock has a market cap of $14.76 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 3.24 and a beta of 0.75. The company has a 50 day moving average of $66.56 and a 200-day moving average of $70.81. W.P. Carey has a one year low of $62.19 and a one year high of $77.22.

W.P. Carey (NYSE:WPC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.09). W.P. Carey had a net margin of 35.60% and a return on equity of 7.67%. The business had revenue of $468.30 million during the quarter, compared to analyst estimates of $457.57 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that W.P. Carey will post 5.07 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.95 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $3.80 annualized dividend and a dividend yield of 5.9%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.94. W.P. Carey’s payout ratio is presently 131.03%.

Institutional Investors Weigh In On W.P. Carey

Large investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC lifted its stake in W.P. Carey by 1.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,818 shares of the real estate investment trust’s stock valued at $988,000 after acquiring an additional 148 shares in the last quarter. Mystic Asset Management Inc. grew its stake in shares of W.P. Carey by 4.5% during the 3rd quarter. Mystic Asset Management Inc. now owns 4,626 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 200 shares in the last quarter. Inspirion Wealth Advisors LLC grew its stake in shares of W.P. Carey by 0.9% during the 3rd quarter. Inspirion Wealth Advisors LLC now owns 22,644 shares of the real estate investment trust’s stock worth $1,464,000 after acquiring an additional 212 shares in the last quarter. Burney Co. raised its holdings in shares of W.P. Carey by 4.8% in the first quarter. Burney Co. now owns 4,727 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 217 shares during the last quarter. Finally, GoalVest Advisory LLC raised its holdings in shares of W.P. Carey by 102.3% in the third quarter. GoalVest Advisory LLC now owns 449 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Company Profile

(Get Free Report)

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.

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