W. P. Carey Inc.

DB:WPY Stock Report

Market Cap: €12.0b

W. P. Carey Valuation

Is WPY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of WPY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: WPY (€53.8) is trading below our estimate of fair value (€137.86)

Significantly Below Fair Value: WPY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WPY?

Key metric: As WPY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for WPY. This is calculated by dividing WPY's market cap by their current earnings.
What is WPY's PE Ratio?
PE Ratio22.6x
EarningsUS$558.11m
Market CapUS$12.59b

Price to Earnings Ratio vs Peers

How does WPY's PE Ratio compare to its peers?

The above table shows the PE ratio for WPY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.7x
SGP Stockland
40.9x17.1%AU$12.5b
LAND Land Securities Group
42.9x25.9%UK£4.5b
MRL MERLIN Properties SOCIMI
44.3x33.2%€5.7b
BLND British Land
22.7x20.1%UK£3.8b
WPY W. P. Carey
22.6x6.2%€12.6b

Price-To-Earnings vs Peers: WPY is good value based on its Price-To-Earnings Ratio (22.6x) compared to the peer average (37.7x).

Price to Earnings Ratio vs Industry

How does WPY's PE Ratio compare vs other companies in the European REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
WPY 22.6xIndustry Avg. 22.8xNo. of Companies8PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WPY is good value based on its Price-To-Earnings Ratio (22.6x) compared to the European REITs industry average (22.8x).

Price to Earnings Ratio vs Fair Ratio

What is WPY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

WPY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate WPY's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst WPY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€53.80
€58.29
+8.4%
6.5%€66.70€53.36n/a11
Nov ’25€50.66
€56.50
+11.5%
6.5%€64.46€51.56n/a11
Oct ’25€55.18
€55.35
+0.3%
6.9%€61.43€48.78n/a11
Sep ’25€54.08
€54.39
+0.6%
5.8%€61.18€48.58n/a11
Aug ’25€52.84
€55.77
+5.5%
5.8%€63.02€50.04n/a11
Jul ’25€50.72
€55.05
+8.5%
6.5%€64.32€50.54n/a11
Jun ’25€51.66
€55.64
+7.7%
6.9%€64.53€50.70n/a11
May ’25€51.20
€56.68
+10.7%
8.1%€65.47€50.51n/a10
Apr ’25€51.90
€57.34
+10.5%
8.6%€68.32€49.86n/a10
Mar ’25€51.78
€57.96
+11.9%
8.6%€68.20€47.92n/a9
Feb ’25€57.38
€59.03
+2.9%
9.5%€68.25€47.96n/a10
Jan ’25€58.98
€56.32
-4.5%
9.8%€67.33€47.31n/a10
Dec ’24€58.14
€54.62
-6.1%
6.9%€59.72€47.78n/a9
Nov ’24€51.12
€59.07
+15.5%
10.4%€69.30€49.36€50.669
Oct ’24€50.98
€62.70
+23.0%
10.3%€73.85€51.13€55.189
Sep ’24€60.50
€68.76
+13.7%
6.7%€75.58€61.75€54.0810
Aug ’24€60.82
€72.12
+18.6%
6.9%€80.94€62.75€52.8410
Jul ’24€61.56
€74.00
+20.2%
6.0%€81.61€67.86€50.7210
Jun ’24€63.96
€78.09
+22.1%
4.5%€83.56€72.42€51.669
May ’24€67.16
€77.48
+15.4%
3.5%€82.04€72.01€51.2010
Apr ’24€70.98
€79.49
+12.0%
2.2%€82.97€77.44€51.909
Mar ’24€75.08
€82.07
+9.3%
3.7%€89.10€79.72€51.7810
Feb ’24€76.36
€79.48
+4.1%
5.4%€87.06€70.56€57.3811
Jan ’24€72.94
€80.88
+10.9%
6.1%€89.62€72.64€58.9811
Dec ’23€76.55
€82.77
+8.1%
6.0%€91.91€74.50€58.1411
Nov ’23€77.07
€85.49
+10.9%
7.2%€96.23€76.98€51.1210

Analyst Forecast: Target price is less than 20% higher than the current share price.

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