W. P. Carey’s (WPC) Market Perform Rating Reiterated at JMP Securities

W. P. Carey (NYSE:WPC)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a report released on Monday,Benzinga reports.

Other equities analysts have also issued reports about the company. Evercore ISI upped their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Barclays upped their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. UBS Group reduced their target price on shares of 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. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Down 0.1 %

WPC stock traded down $0.07 during trading on Monday, hitting $56.95. The company had a trading volume of 139,189 shares, compared to its average volume of 1,202,066. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey has a one year low of $53.09 and a one year high of $67.40. The business has a 50-day moving average of $57.15 and a 200-day moving average of $58.02. The stock has a market cap of $12.46 billion, a PE ratio of 22.43, a PEG ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS 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 net margin of 35.12% and a return on equity of 6.45%. 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 EPS. Research analysts predict that W. P. Carey will post 4.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On W. P. Carey

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of W. P. Carey by 20.4% in the 3rd quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust’s stock worth $9,898,000 after acquiring an additional 28,022 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in W. P. Carey during the third quarter valued at about $262,000. Toronto Dominion Bank grew its stake in shares of W. P. Carey by 31.4% during the third quarter. Toronto Dominion Bank now owns 27,551 shares of the real estate investment trust’s stock valued at $1,716,000 after buying an additional 6,586 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of W. P. Carey by 323.4% in the third quarter. Coldstream Capital Management Inc. now owns 47,132 shares of the real estate investment trust’s stock worth $2,921,000 after buying an additional 36,001 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of W. P. Carey by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after acquiring an additional 127,477 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

About W. P. Carey

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.