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 objective by investment analysts at Evercore ISI in a research note issued on Monday, Stock Target Advisor reports. Evercore ISI’s target price indicates a potential upside of 7.29% from the company’s current price.

Other research analysts have also issued research reports about the company. StockNews.com lowered W. P. Carey from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. JMP Securities started coverage on W. P. Carey in a report on Tuesday, May 10th. They issued an “outperform” rating and a $87.00 price objective on the stock. Finally, Raymond James started coverage on W. P. Carey in a report on Thursday, April 14th. They issued an “outperform” rating and a $90.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, W. P. Carey has a consensus rating of “Buy” and a consensus target price of $88.83.

Shares of NYSE:WPC traded up $0.90 during midday trading on Monday, reaching $82.95. 107,776 shares of the company’s stock traded hands, compared to its average volume of 1,003,779. W. P. Carey has a 1 year low of $73.02 and a 1 year high of $86.48. The company has a market cap of $16.00 billion, a P/E ratio of 30.05, a PEG ratio of 8.70 and a beta of 0.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 0.20. The company has a fifty day simple moving average of $82.15 and a two-hundred day simple moving average of $80.10.

W. P. Carey (NYSE:WPC – Get Rating) last announced its earnings results on Friday, April 29th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.39. W. P. Carey had a return on equity of 6.88% and a net margin of 37.65%. The firm had revenue of $344.10 million for the quarter, compared to analyst estimates of $340.96 million. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that W. P. Carey will post 5.24 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of WPC. Outfitter Financial LLC purchased a new position in shares of W. P. Carey during the 4th quarter worth $25,000. Fairfield Bush & CO. purchased a new position in shares of W. P. Carey during the 1st quarter worth $26,000. Acadian Asset Management LLC purchased a new position in shares of W. P. Carey during the 1st quarter worth $26,000. TimeScale Financial Inc. purchased a new position in shares of W. P. Carey during the 4th quarter worth $28,000. Finally, Quent Capital LLC purchased a new position in shares of W. P. Carey during the 1st quarter worth $32,000. Institutional investors and hedge funds own 58.86% of the company’s stock.

About W. P. Carey (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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