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

W. P. Carey (NYSE:WPC)‘s stock had its “market perform” rating reiterated by JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports.

Several other research analysts also recently issued reports on WPC. Wells Fargo & Company reiterated 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. Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Stock Down 0.6 %

WPC stock opened at $56.38 on Monday. The business has a 50 day moving average of $57.08 and a 200 day moving average of $58.03. The firm has a market cap of $12.34 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. W. P. Carey has a twelve month low of $53.09 and a twelve month high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last issued its quarterly 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 company 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%. W. P. Carey’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share. On average, research analysts forecast that W. P. Carey will post 4.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. HB Wealth Management LLC grew its position in shares of W. P. Carey by 247.3% during the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after acquiring an additional 8,843 shares during the period. Equity Investment Corp raised its stake in shares of W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after buying an additional 9,610 shares during the period. SG Americas Securities LLC lifted its position in shares of W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after buying an additional 46,181 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after acquiring an additional 9,353 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new stake in W. P. Carey in the 3rd quarter worth approximately $1,692,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

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.