Raymond James Downgrades W. P. Carey (NYSE:WPC) to Market Perform

W. P. Carey (NYSE:WPCGet Free Report) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Monday, MarketBeat Ratings reports.

Other analysts have also issued reports about the company. StockNews.com assumed coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Royal Bank of Canada lifted their price target on shares of W. P. Carey from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Finally, JMP Securities lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $66.60.

Read Our Latest Analysis on W. P. Carey

W. P. Carey Stock Down 6.5 %

Shares of WPC stock opened at $57.38 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.12 and a debt-to-equity ratio of 0.81. W. P. Carey has a twelve month low of $51.36 and a twelve month high of $85.36. The stock has a 50 day moving average of $64.23 and a 200 day moving average of $61.24. The stock has a market cap of $12.55 billion, a P/E ratio of 17.39, a P/E/G ratio of 7.26 and a beta of 0.89.

W. P. Carey (NYSE:WPCGet Free Report) last announced its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. As a group, sell-side analysts expect that W. P. Carey will post 4.57 EPS for the current year.

Hedge Funds Weigh In On W. P. Carey

Several institutional investors and hedge funds have recently bought and sold shares of the company. Demars Financial Group LLC raised its holdings in W. P. Carey by 14.0% in the 3rd quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust’s stock valued at $4,122,000 after buying an additional 9,334 shares during the period. Marshall Wace LLP boosted its holdings in W. P. Carey by 720.1% during the 2nd quarter. Marshall Wace LLP now owns 615,393 shares of the real estate investment trust’s stock valued at $41,576,000 after acquiring an additional 540,357 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in W. P. Carey by 5.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock worth $11,852,000 after purchasing an additional 10,562 shares during the period. Arkfeld Wealth Strategies L.L.C. acquired a new stake in shares of W. P. Carey during the third quarter worth about $2,267,000. Finally, Barclays PLC grew its holdings in shares of W. P. Carey by 78.5% in the third quarter. Barclays PLC now owns 502,141 shares of the real estate investment trust’s stock valued at $27,157,000 after purchasing an additional 220,868 shares in the last quarter. 62.62% of the stock is currently owned by institutional investors and hedge funds.

About W. P. Carey

(Get Free Report)

Celebrating its 50th anniversary, 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 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.

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