W. P. Carey (NYSE:WPC) Receives Market Perform Rating from JMP Securities

W. P. Carey (NYSE:WPC)‘s stock had its “market perform” rating reissued by research analysts at JMP Securities in a note issued to investors on Friday,Benzinga reports.

A number of other equities analysts also recently issued reports on WPC. UBS Group cut their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays restated an “underweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Finally, Evercore ISI lifted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.57.

W. P. Carey Price Performance

Shares of WPC stock traded down $0.69 during trading on Friday, hitting $54.09. The company had a trading volume of 382,529 shares, compared to its average volume of 1,012,833. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $11.84 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The stock’s 50-day moving average price is $55.65 and its 200 day moving average price is $57.83. W. P. Carey has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. Equities analysts expect that W. P. Carey will post 4.5 EPS for the current fiscal year.

Institutional Investors Weigh In On W. P. Carey

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strathmore Capital Advisors Inc. bought a new position in W. P. Carey in the fourth quarter worth approximately $236,000. Diversified Trust Co bought a new position in W. P. Carey in the fourth quarter worth approximately $534,000. Pensionfund Sabic raised its position in W. P. Carey by 18.1% in the fourth quarter. Pensionfund Sabic now owns 52,304 shares of the real estate investment trust’s stock worth $2,849,000 after acquiring an additional 8,000 shares during the period. Nordea Investment Management AB raised its position in shares of W. P. Carey by 10.8% during the 4th quarter. Nordea Investment Management AB now owns 16,335 shares of the real estate investment trust’s stock valued at $888,000 after purchasing an additional 1,587 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in shares of W. P. Carey during the 4th quarter valued at $286,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Company Profile

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 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.