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 subject of a number of other research reports. Evercore ISI cut shares of WP Carey from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. Capital One Financial restated an “equal weight” rating on shares of WP Carey in a research note on Tuesday, March 5th. ValuEngine upgraded shares of WP Carey from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Finally, Mitsubishi UFJ Financial Group dropped their price target on shares of WP Carey to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.05.
WP Carey (NYSE:WPC) last posted its earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $298.30 million for the quarter, compared to the consensus estimate of $304.42 million. WP Carey had a net margin of 44.84% and a return on equity of 8.12%. The business’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. On average, analysts anticipate that WP Carey will post 4.97 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc raised its position in WP Carey by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 15,410,572 shares of the real estate investment trust’s stock valued at $991,053,000 after purchasing an additional 44,898 shares during the last quarter. BlackRock Inc. grew its stake in shares of WP Carey by 4.6% during the 1st quarter. BlackRock Inc. now owns 13,349,952 shares of the real estate investment trust’s stock worth $1,045,703,000 after purchasing an additional 592,140 shares during the period. JPMorgan Chase & Co. boosted its position in shares of WP Carey by 104.2% in the 1st quarter. JPMorgan Chase & Co. now owns 3,938,835 shares of the real estate investment trust’s stock worth $308,529,000 after buying an additional 2,009,980 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of WP Carey by 454.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,536,876 shares of the real estate investment trust’s stock worth $165,759,000 after buying an additional 2,079,698 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of WP Carey by 17.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,184,809 shares of the real estate investment trust’s stock worth $171,137,000 after buying an additional 322,038 shares in the last quarter. Institutional investors own 51.86% 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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