W. P. Carey (NYSE:WPC) Given a $89.00 Price Target by Evercore ISI Analysts
W. P. Carey (NYSE:WPC – Get Rating) has been assigned a $89.00 price target by investment analysts at Evercore ISI in a research note issued to investors on Monday, Stock Target Advisor reports. Evercore ISI’s price objective points to a potential upside of 7.29% from the stock’s previous close.
Several other research firms have also commented on WPC. StockNews.com lowered shares of W. P. Carey from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. JMP Securities assumed coverage on shares of W. P. Carey in a research report on Tuesday, May 10th. They set an “outperform” rating and a $87.00 price target for the company. Finally, Raymond James assumed coverage on shares of W. P. Carey in a report on Thursday, April 14th. They set an “outperform” rating and a $90.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $88.83.
NYSE:WPC traded up $0.90 during mid-day trading on Monday, reaching $82.95. The company’s stock had a trading volume of 107,776 shares, compared to its average volume of 1,003,779. The firm has a market capitalization of $16.00 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 8.70 and a beta of 0.70. The stock has a fifty day moving average of $82.15 and a 200-day moving average of $80.10. W. P. Carey has a 1 year low of $73.02 and a 1 year high of $86.48. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.82.
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W. P. Carey (NYSE:WPC – Get Rating) last released its quarterly earnings results on Friday, April 29th. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate of $0.43 by $0.39. The business had revenue of $344.10 million during the quarter, compared to analyst estimates of $340.96 million. W. P. Carey had a net margin of 37.65% and a return on equity of 6.88%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. On average, analysts expect that W. P. Carey will post 5.24 earnings per share for the current year.
A number of large investors have recently modified their holdings of WPC. Norges Bank acquired a new position in W. P. Carey in the 4th quarter worth approximately $149,987,000. State Street Corp increased its holdings in W. P. Carey by 17.1% in the 1st quarter. State Street Corp now owns 9,572,789 shares of the real estate investment trust’s stock worth $783,467,000 after buying an additional 1,400,997 shares during the period. Vanguard Group Inc. increased its holdings in W. P. Carey by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock worth $2,209,731,000 after buying an additional 1,016,340 shares during the period. BlackRock Inc. increased its holdings in W. P. Carey by 5.4% in the 4th quarter. BlackRock Inc. now owns 14,112,099 shares of the real estate investment trust’s stock worth $1,157,897,000 after buying an additional 722,076 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in W. P. Carey in the 1st quarter worth approximately $42,483,000. Institutional investors own 58.86% of the company’s stock.
W. P. Carey Company Profile (Get Rating)
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.
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