WP Carey Inc. (NYSE: WPC) – Capital One Financial increased its earnings per share estimate for the fourth quarter of 2022 for shares of WP Carey in a report released on Thursday, October 7. Capital One Financial analyst C. Lucas now predicts the REIT will earn $ 1.27 per share for the quarter, up from its previous estimate of $ 1.26. Capital One Financial currently has an “overweight” rating and a target price of $ 90.00 on the share. Capital One Financial also released estimates for WP Carey’s first quarter 2023 earnings at $ 1.30 per share, third quarter 2023 earnings at $ 1.28 per share, and fiscal 2023 earnings at 5, $ 13 per share. WP Carey (NYSE: WPC) last released its quarterly results on Thursday, July 29. The REIT reported earnings of $ 0.67 per share (EPS) for the quarter, missing Zacks’ consensus estimate of $ 0.79 of ($ 0.12). WP Carey had a net margin of 36.74% and a return on equity of 6.52%. The company posted revenue of $ 319.72 million for the quarter, compared to analysts’ estimates of $ 315.03 million. In the same quarter of the previous year, the company posted EPS of $ 0.61. The company’s revenue for the quarter increased 10.0% from the same quarter last year.
Several other analysts also recently commented on the title. Wells Fargo & Company raised its price target for WP Carey’s stock from $ 77.00 to $ 90.00 and rated the company as “overweight” in a report released on Wednesday, June 23. The Royal Bank of Canada began hedging shares of WP Carey in a report on Friday, September 17. They issued an “outperformance” rating and a price target of $ 89 on the stock. Zacks Investment Research downgraded WP Carey’s shares from a “hold” rating to a “buy” rating and set a price target of $ 84.00 on the stock in a report released Thursday, September 30. Finally, JPMorgan Chase & Co. upgraded WP Carey’s shares from a “neutral” to an “overweight” rating and raised its price target for the company from $ 77.00 to $ 88.00 in a report published on Tuesday, June 15. One investment analyst rated the stock with a sell rating and six gave the company a buy rating. Based on data from MarketBeat, WP Carey currently has a consensus rating of “Buy” and an average target price of $ 86.83.
Shares of WP Carey opened at $ 75.00 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt ratio of 0.90. WP Carey has a 12 month low of $ 60.68 and a 12 month high of $ 82.37. The company has a market cap of $ 13.82 billion, a price-to-earnings ratio of 29.18 and a beta of 0.71. The company’s 50-day simple moving average is $ 77.22 and its two-hundred-day simple moving average is $ 75.84.
A number of hedge funds and other institutional investors have recently changed their positions in WPC. Federated Hermes Inc. increased its holdings in WP Carey by 130.6% in the first quarter. Federated Hermes Inc. now owns 528 real estate investment trust shares worth $ 37,000 after purchasing an additional 299 shares during the last quarter. Wagner Wealth Management LLC increased its stake in WP Carey by 65.0% during the second quarter. Wagner Wealth Management LLC now owns 495 real estate investment trust shares valued at $ 37,000 after purchasing 195 additional shares last quarter. Penserra Capital Management LLC increased its stake in WP Carey by 33.4% during the second quarter. Penserra Capital Management LLC now owns 571 shares of the REIT valued at $ 42,000 after purchasing 143 additional shares last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in WP Carey by 78.9% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 635 shares of the REIT valued at $ 47,000 after purchasing 280 additional shares last quarter. Finally, WealthShield Partners LLC increased its stake in WP Carey by 258.6% during the second quarter. WealthShield Partners LLC now owns 728 real estate investment trust shares valued at $ 54,000 after purchasing an additional 525 shares in the last quarter. 57.90% of the shares are currently held by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15. Investors of record on Thursday, September 30 will receive a dividend of $ 1.052 per share. The ex-dividend date is Wednesday, September 29. This is an increase from WP Carey’s previous quarterly dividend of $ 1.05. This represents a dividend of $ 4.21 on an annualized basis and a return of 5.61%. WP Carey’s dividend payout ratio is 88.82%.
About WP Carey
WP Carey, Inc. operates as a real estate investment trust. It operates through two segments: real estate ownership and investment management. The Real Estate Property segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for property investment funds and manages property investment portfolios.
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