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

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

WPC has been the subject of a number of other reports. Evercore ISI raised their target price 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. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays reiterated an “underweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.57.

W. P. Carey Stock Down 1.6 %

Shares of WPC stock opened at $53.93 on Friday. W. P. Carey has a 1 year low of $53.09 and a 1 year high of $67.40. 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 business’s fifty day moving average is $55.62 and its 200-day moving average is $57.84. The stock has a market cap 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.

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 (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 analyst estimates of $377.43 million. During the same period in the previous year, the firm earned $1.32 earnings per share. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. Equities analysts expect that W. P. Carey will post 4.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP grew its stake in shares of W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares in the last quarter. Maia Wealth LLC bought a new position in shares of W. P. Carey during the 3rd quarter valued at $40,000. Massmutual Trust Co. FSB ADV boosted its holdings in W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares in the last quarter. Institutional investors and hedge funds 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.