W. P. Carey (NYSE:WPC) Given Market Perform Rating at JMP Securities

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

Other analysts have also issued reports about the stock. Wells Fargo & Company restated 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. Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. UBS Group cut their target price 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. Finally, Barclays reiterated an “underweight” rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.57.

W. P. Carey Stock Performance

Shares of WPC opened at $53.93 on Friday. The company has a market capitalization of $11.80 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey has a one year low of $53.09 and a one year high of $67.40. The company’s fifty day moving average price is $55.62 and its 200 day moving average price is $57.84.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million during 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 company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, analysts expect that W. P. Carey will post 4.5 earnings per share for the current year.

Hedge Funds Weigh In On W. P. Carey

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after buying an additional 127,477 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after acquiring an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in W. P. Carey by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after purchasing an additional 103,147 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after purchasing an additional 1,784,131 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

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.