ValuEngine Downgrades WP Carey (WPC) to Hold

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WP Carey (NYSE:WPC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, December 28th.

Several other equities analysts have also weighed in on WPC. Zacks Investment Research upgraded shares of WP Carey from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, August 31st. JPMorgan Chase & Co. initiated coverage on shares of WP Carey in a report on Wednesday, December 19th. They issued a “neutral” rating and a $73.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company has an average rating of “Hold” and an average target price of $70.81.

Shares of WPC traded down $0.29 during mid-day trading on Friday, reaching $68.82. The company had a trading volume of 724,758 shares, compared to its average volume of 1,043,531. The firm has a market cap of $11.00 billion, a PE ratio of 12.98 and a beta of 0.54. WP Carey has a fifty-two week low of $59.23 and a fifty-two week high of $71.29. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.21.

WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.08. The company had revenue of $209.40 million for the quarter, compared to analyst estimates of $215.47 million. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. WP Carey’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. As a group, equities research analysts anticipate that WP Carey will post 5.24 earnings per share for the current year.

In other news, Director Jean Hoysradt purchased 2,300 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were acquired at an average price of $64.73 per share, for a total transaction of $148,879.00. Following the completion of the acquisition, the director now directly owns 9,255 shares of the company’s stock, valued at $599,076.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher Niehaus purchased 3,850 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were purchased 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. 1.56% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Strategic Wealth Partners Ltd. boosted its holdings in shares of WP Carey by 53.3% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 512 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 178 shares during the period. LifePlan Financial Group Inc bought a new stake in shares of WP Carey during the 4th quarter worth $51,000. Sound Income Strategies LLC boosted its holdings in shares of 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. Girard Partners LTD. bought a new stake in WP Carey in the 3rd quarter valued at $113,000. Finally, First Hawaiian Bank bought a new stake in WP Carey in the 3rd quarter valued at $123,000. Hedge funds and other institutional investors own 32.33% of the company’s stock.

About WP Carey

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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