Zacks Investment Research Downgrades WP Carey (WPC) to Sell

Zacks Investment Research downgraded shares of WP Carey (NYSE:WPC) from a hold rating to a sell rating in a research note published on Saturday morning.

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. “

A number of other research analysts also recently issued reports on WPC. ValuEngine downgraded shares of WP Carey from a buy rating to a hold rating in a research report on Friday, December 28th. JPMorgan Chase & Co. began coverage on shares of WP Carey in a research report on Wednesday, December 19th. They set a neutral rating and a $73.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $70.81.

Shares of NYSE:WPC opened at $69.30 on Friday. WP Carey has a 12 month low of $59.23 and a 12 month high of $71.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 13.08 and a beta of 0.54.

WP Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The firm had revenue of $209.40 million for the quarter, compared to analyst estimates of $215.47 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was down .6% on a year-over-year basis. Analysts expect that WP Carey will post 5.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, December 28th. This is an increase from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.12 dividend on an annualized basis and a yield of 5.95%. WP Carey’s dividend payout ratio is presently 77.74%.

In other WP Carey news, Director Jean Hoysradt bought 2,300 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were bought at an average cost of $64.73 per share, for a total transaction of $148,879.00. Following the transaction, the director now owns 9,255 shares in the company, valued at approximately $599,076.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher Niehaus bought 3,850 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were acquired at an average price of $66.08 per share, for a total transaction of $254,408.00. The disclosure for this purchase can be found here. Corporate insiders own 1.56% of the company’s stock.

Several large investors have recently made changes to their positions in WPC. Strategic Wealth Partners Ltd. raised its position in shares of WP Carey by 53.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 512 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 178 shares during the period. LifePlan Financial Group Inc acquired a new stake in shares of WP Carey in the 4th quarter valued at approximately $51,000. Sound Income Strategies LLC raised its holdings in WP Carey by 842.1% during the 4th quarter. Sound Income Strategies LLC now owns 895 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 800 shares during the period. Kistler Tiffany Companies LLC raised its holdings in WP Carey by 266.7% during the 4th quarter. Kistler Tiffany Companies LLC now owns 1,100 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 800 shares during the period. Finally, Girard Partners LTD. acquired a new stake in WP Carey during the 3rd quarter worth approximately $113,000. Institutional investors and hedge funds own 32.36% of the company’s stock.

WP Carey Company Profile

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.

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