W. P. Carey (NYSE:WPC) Upgraded at Zacks Investment Research

W. P. Carey (NYSE:WPC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $85.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.29% from the stock’s current price.

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. “

Several other analysts have also recently commented on WPC. Royal Bank of Canada initiated coverage on W. P. Carey in a research report on Friday. They set an “outperform” rating and a $89.00 price target for the company. Capital One Financial upgraded W. P. Carey from an “equal weight” rating to an “overweight” rating and set a $90.00 price target for the company in a research report on Monday, July 26th. JPMorgan Chase & Co. upgraded W. P. Carey from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $77.00 to $88.00 in a research report on Tuesday, June 15th. Finally, Wells Fargo & Company boosted their price target on W. P. Carey from $77.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 23rd. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey presently has a consensus rating of “Buy” and an average price target of $87.00.

Shares of W. P. Carey stock traded up $0.39 on Tuesday, reaching $76.38. 4,419 shares of the stock were exchanged, compared to its average volume of 972,148. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.90. W. P. Carey has a twelve month low of $60.68 and a twelve month high of $82.37. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of 29.75 and a beta of 0.71. The business has a 50 day moving average price of $78.34 and a two-hundred day moving average price of $75.39.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Thursday, July 29th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.12). The company had revenue of $319.72 million for the quarter, compared to analysts’ expectations of $315.03 million. W. P. Carey had a net margin of 36.74% and a return on equity of 6.52%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. Research analysts forecast that W. P. Carey will post 4.86 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Wagner Wealth Management LLC raised its holdings in shares of W. P. Carey by 65.0% in the 2nd quarter. Wagner Wealth Management LLC now owns 495 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 195 shares during the period. Federated Hermes Inc. increased its holdings in shares of W. P. Carey by 130.6% in the 1st quarter. Federated Hermes Inc. now owns 528 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 299 shares during the last quarter. Certified Advisory Corp purchased a new position in shares of W. P. Carey in the 1st quarter valued at about $39,000. Penserra Capital Management LLC increased its holdings in shares of W. P. Carey by 33.4% in the 2nd quarter. Penserra Capital Management LLC now owns 571 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 143 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of W. P. Carey by 78.9% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 635 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 57.90% of the company’s stock.

W. P. Carey Company Profile

W.P. Carey, Inc operates as a real estate investment trust. It operates through two segment: Real Estate Ownership and Investment Management. The Real Estate Ownership segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for the real estate investment trusts, and manages portfolios of real estate investments.

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