WP Carey (NYSE:WPC) had its price objective dropped by equities research analysts at Mitsubishi UFJ Financial Group to $77.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mitsubishi UFJ Financial Group’s price objective would indicate a potential downside of 1.29% from the company’s previous close.
Several other brokerages have also recently weighed in on WPC. Zacks Investment Research cut shares of WP Carey from a “hold” rating to a “sell” rating in a research report on Saturday, April 27th. 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 reissued an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Finally, ValuEngine raised shares of WP Carey from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. WP Carey has a consensus rating of “Hold” and a consensus price target of $72.05.
Shares of WPC stock opened at $78.01 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market cap of $13.19 billion, a PE ratio of 14.47, a PEG ratio of 3.98 and a beta of 0.60. WP Carey has a twelve month low of $62.12 and a twelve month high of $79.86.
WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $304.42 million. WP Carey had a net margin of 44.84% and a return on equity of 9.28%. The company’s revenue was up 47.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, analysts forecast that WP Carey will post 4.97 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of WPC. Valley National Advisers Inc. acquired a new position in WP Carey in the fourth quarter valued at about $25,000. Karp Capital Management Corp acquired a new position in WP Carey in the fourth quarter valued at about $26,000. Sage Capital Advisors llc acquired a new position in WP Carey in the fourth quarter valued at about $26,000. Proficio Capital Partners LLC lifted its position in WP Carey by 40.5% in the fourth quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 140 shares during the last quarter. Finally, Executive Wealth Management LLC acquired a new position in WP Carey in the fourth quarter valued at about $35,000. 50.26% of the stock is currently owned by institutional investors.
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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