WP Carey (NYSE:WPC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of WP Carey (NYSE:WPC) from a sell rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

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 topic of a number of other reports. Mitsubishi UFJ Financial Group dropped their price objective on shares of WP Carey to $77.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. ValuEngine lowered shares of WP Carey from a buy rating to a hold rating in a research note on Friday, August 2nd. Finally, Citigroup raised shares of WP Carey from a sell rating to a neutral rating and raised their price objective for the company from $59.00 to $81.00 in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $76.50.

NYSE:WPC opened at $88.62 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 6.58 and a beta of 0.48. The firm has a fifty day simple moving average of $84.66 and a two-hundred day simple moving average of $80.30. WP Carey has a 12 month low of $62.12 and a 12 month high of $88.90.

WP Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.85). WP Carey had a return on equity of 6.72% and a net margin of 38.36%. The company had revenue of $305.21 million during the quarter, compared to analyst estimates of $303.23 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. Equities analysts predict that WP Carey will post 4.91 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. lifted its position in shares of WP Carey by 65.4% during the first quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 811 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of WP Carey by 43.2% during the first quarter. Nisa Investment Advisors LLC now owns 26,630 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 8,030 shares in the last quarter. Eldridge Investment Advisors Inc. lifted its position in shares of WP Carey by 3.2% during the second quarter. Eldridge Investment Advisors Inc. now owns 12,725 shares of the real estate investment trust’s stock valued at $1,033,000 after purchasing an additional 400 shares in the last quarter. Hanson McClain Inc. lifted its position in shares of WP Carey by 9.7% during the first quarter. Hanson McClain Inc. now owns 3,136 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 277 shares in the last quarter. Finally, Private Vista LLC lifted its position in shares of WP Carey by 7.6% during the first quarter. Private Vista LLC now owns 15,408 shares of the real estate investment trust’s stock valued at $1,207,000 after purchasing an additional 1,084 shares in the last quarter. 54.04% of the stock is currently owned by hedge funds and other 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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