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. “
Several other brokerages have also recently weighed in on WPC. Citigroup raised shares of WP Carey from a sell rating to a neutral rating and increased their price target for the company from $59.00 to $81.00 in a research report on Friday, June 7th. ValuEngine cut shares of WP Carey from a buy rating to a hold rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of Hold and an average target price of $77.00.
WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.85). The company had revenue of $305.21 million during the quarter, compared to analysts’ expectations of $303.23 million. WP Carey had a return on equity of 6.72% and a net margin of 38.36%. During the same period last year, the firm earned $0.60 earnings per share. As a group, equities research analysts forecast that WP Carey will post 4.9 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC increased its position in WP Carey by 0.6% during the 2nd quarter. Wellington Shields & Co. LLC now owns 18,915 shares of the real estate investment trust’s stock valued at $1,536,000 after purchasing an additional 120 shares during the period. TD Asset Management Inc. lifted its holdings in WP Carey by 3.6% in the first quarter. TD Asset Management Inc. now owns 3,994 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 137 shares during the period. KC Investment Advisors LLC boosted its position in WP Carey by 2.7% during the 1st quarter. KC Investment Advisors LLC now owns 5,355 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 140 shares in the last quarter. Sheets Smith Wealth Management boosted its position in WP Carey by 0.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 64,182 shares of the real estate investment trust’s stock valued at $5,210,000 after acquiring an additional 181 shares in the last quarter. Finally, NewFocus Financial Group LLC grew its holdings in shares of WP Carey by 0.5% during the 2nd quarter. NewFocus Financial Group LLC now owns 37,112 shares of the real estate investment trust’s stock worth $3,013,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 56.29% of the company’s stock.
About WP Carey
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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