W. P. Carey Inc. (NYSE: WPC) stock fell -1.79% on Friday to $79.19 against a previous-day closing price of $80.63. With 1.11 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.92 million shares. During the session, the REIT – Diversified company that operates in wider Real Estate sector, reached to the highest price of $80.91 whereas the lowest price it dropped to was $78.72. The 52-week range on WPC shows that it touched its highest point at $89.63 and its lowest point at $73.02 during that stretch. It currently has a 1-year price target of $92.70. With its current market cap of 16.21 billion, WPC has annualized dividend of $4.24 while the current yield stands at 5.35%. Beta for the stock currently stands at 0.71.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WPC was down-trending over the past week, with a drop of -5.12%, but this was down by -8.06% over a month. Three-month performance dropped to -6.77% while six-month performance fell -0.75%. The stock gained 3.38% in the past year, while it has lost -3.49% so far this year. A look at the trailing 12-month EPS for WPC yields 2.74 with Next year EPS estimates of 2.61.
Float and Shares Shorts:
At present, 207.53 million WPC shares are outstanding with a float of 205.39 million shares on hand for trading. On Jul 14, 2022, short shares totaled 7.01 million, which was 3.64% higher than short shares on Jun 14, 2022. In addition to Mr. Jason E. Fox as the firm’s CEO & Director, Mr. John J. Park serves as its Pres.
Through their ownership of 64.35% of WPC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.42% of WPC, in contrast to 34.67% held by mutual funds. Shares owned by individuals account for 32.51%. As the largest shareholder in WPC with 14.13% of the stake, The Vanguard Group, Inc. holds 27,250,945 shares worth 27,250,945. A second-largest stockholder of WPC, SSgA Funds Management, Inc., holds 9,382,648 shares, controlling over 4.86% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in WPC, holding 9,185,078 shares or 4.76% stake. With a 4.53% stake in WPC, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 8,743,103 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.96% of WPC stock, is the second-largest Mutual Fund holder. It holds 5,706,247 shares valued at 479.5 million. Vanguard Mid Cap Index Fund holds 2.29% of the stake in WPC, owning 4,422,691 shares worth 371.64 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WPC since 11 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With WPC analysts setting a high price target of $100.00 and a low target of $85.00, the average target price over the next 12 months is $92.27. Based on these targets, WPC could surge 26.28% to reach the target high and rise by 7.34% to reach the target low. Reaching the average price target will result in a growth of 16.52% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. WPC will report FY 2022 earnings on 02/10/2023. Analysts have provided yearly estimates in a range of $2.72 being high and $2.72 being low. For WPC, this leads to a yearly average estimate of $2.72. Based on analyst estimates, the high estimate for the next quarter is $0.62 and the low estimate is $0.62. The average estimate for the next quarter is thus $0.62.
Summary of Insider Activity:
Insiders traded WPC stock several times over the past three months with 9 Buys and 1 Sells. In these transactions, 17,271 shares were bought while 147 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 190,360 while 17,594 shares were sold.