W. P. Carey (NYSE:WPC – Get Free Report) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Monday, Marketbeat Ratings reports.
WPC has been the topic of a number of other reports. Royal Bank of Canada lifted their price objective on W. P. Carey from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, January 11th. StockNews.com started coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Finally, JMP Securities cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.60.
W. P. Carey Stock Down 6.5 %
W. P. Carey (NYSE:WPC – Get Free Report) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 earnings per share. On average, equities research analysts expect that W. P. Carey will post 4.57 earnings per share for the current year.
Institutional Trading of W. P. Carey
Large investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its holdings in W. P. Carey by 3.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 304,302 shares of the real estate investment trust’s stock worth $19,722,000 after purchasing an additional 11,484 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in shares of W. P. Carey by 41.8% during the 4th quarter. SageView Advisory Group LLC now owns 13,461 shares of the real estate investment trust’s stock valued at $839,000 after buying an additional 3,967 shares during the period. US Bancorp DE boosted its stake in shares of W. P. Carey by 4.8% in the 4th quarter. US Bancorp DE now owns 34,959 shares of the real estate investment trust’s stock worth $2,266,000 after buying an additional 1,586 shares during the last quarter. Tidemark LLC bought a new stake in shares of W. P. Carey in the fourth quarter worth $42,000. Finally, Ontario Teachers Pension Plan Board increased its position in W. P. Carey by 80.7% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,961 shares of the real estate investment trust’s stock valued at $1,553,000 after acquiring an additional 10,699 shares during the last quarter. 62.62% of the stock is currently owned by institutional investors.
About W. P. Carey
Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.
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