W. P. Carey (NYSE:WPC) Stock Rating Lowered by Zacks Investment Research

W. P. Carey (NYSE:WPC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, 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. “

A number of other equities research analysts have also weighed in on WPC. Capital One Financial upgraded W. P. Carey from an “equal weight” rating to an “overweight” rating and set a $90.00 price objective on the stock 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 note on Tuesday, June 15th. Royal Bank of Canada began coverage on W. P. Carey in a research report on Friday, September 17th. They set an “outperform” rating and a $89.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on W. P. Carey from $77.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $86.83.

WPC stock opened at $77.20 on Tuesday. W. P. Carey has a fifty-two week low of $60.68 and a fifty-two week high of $82.37. The stock has a fifty day moving average of $76.87 and a 200-day moving average of $76.04. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of 30.04 and a beta of 0.71.

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

A number of hedge funds have recently bought and sold shares of WPC. JPMorgan Chase & Co. boosted its holdings in W. P. Carey by 19.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,702,498 shares of the real estate investment trust’s stock worth $350,902,000 after buying an additional 763,643 shares during the last quarter. Brookfield Asset Management Inc. purchased a new stake in W. P. Carey in the first quarter valued at approximately $42,284,000. OLD Republic International Corp purchased a new stake in W. P. Carey in the second quarter valued at approximately $38,952,000. Renaissance Technologies LLC purchased a new stake in W. P. Carey in the first quarter valued at approximately $34,120,000. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in W. P. Carey in the second quarter valued at approximately $30,262,000. Institutional investors own 57.90% of the company’s stock.

About W. P. Carey

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.

Featured Story: Dead Cat Bounce

Get a free copy of the Zacks research report on W. P. Carey (WPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for W. P. Carey (NYSE:WPC)

Receive News & Ratings for W. P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.