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

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

Several other equities research analysts have also recently issued reports on WPC. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. UBS Group reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays restated an “underweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Finally, Evercore ISI boosted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company 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 issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus price target of $62.57.

W. P. Carey Price Performance

Shares of NYSE:WPC traded down $0.69 on Friday, reaching $54.09. The company’s stock had a trading volume of 382,529 shares, compared to its average volume of 1,012,833. W. P. Carey has a 52-week low of $53.09 and a 52-week high of $67.40. The company has a market cap of $11.84 billion, a P/E ratio of 21.30, a PEG ratio of 1.04 and a beta of 0.97. The company has a 50-day simple moving average of $55.65 and a 200 day simple moving average of $57.83. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results 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). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the prior year, the firm posted $1.32 earnings per share. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that W. P. Carey will post 4.5 EPS for the current fiscal year.

Hedge Funds Weigh In On W. P. Carey

Large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 valued at $127,969,000 after purchasing an additional 1,784,131 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares during the period. Victory Capital Management Inc. boosted its stake in shares of W. P. Carey by 649.4% in the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares during the period. Hsbc Holdings PLC boosted its stake in shares of W. P. Carey by 185.7% in the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after purchasing an additional 444,785 shares during the period. Finally, Equity Investment Corp boosted its stake in shares of W. P. Carey by 38.9% in the second quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock valued at $81,035,000 after purchasing an additional 412,450 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

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.