We’ve recently updated our valuation analysis.

W. P. Carey Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

WPC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue17.2x
Enterprise Value/EBITDA19x
PEG Ratio3.4x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for WPC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average30x
STOR STORE Capital
28x9.3%US$9.0b
BNL Broadstone Net Lease
25.6x8.7%US$3.2b
AAT American Assets Trust
40.8x-1.6%US$2.2b
EPRT Essential Properties Realty Trust
25.7x10.6%US$3.3b
WPC W. P. Carey
34.3x10.1%US$16.8b

Price-To-Earnings vs Peers: WPC is expensive based on its Price-To-Earnings Ratio (34.3x) compared to the peer average (30x).


Price to Earnings Ratio vs Industry

How does WPC's PE Ratio compare vs other companies in the US REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a4.7%
n/an/an/a

Price-To-Earnings vs Industry: WPC is expensive based on its Price-To-Earnings Ratio (34.3x) compared to the US REITs industry average (26x)


Price to Earnings Ratio vs Fair Ratio

What is WPC'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.

WPC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio34.3x
Fair PE Ratio35.4x

Price-To-Earnings vs Fair Ratio: WPC is good value based on its Price-To-Earnings Ratio (34.3x) compared to the estimated Fair Price-To-Earnings Ratio (35.4x).


Share Price vs Fair Value

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

Below Fair Value: WPC ($80.62) is trading below our estimate of fair value ($143.88)

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


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 WPC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$80.62
US$85.55
+6.1%
6.0%US$95.00US$77.00n/a11
Nov ’23US$76.70
US$84.40
+10.0%
7.2%US$95.00US$76.00n/a10
Oct ’23US$69.80
US$92.40
+32.4%
4.6%US$100.00US$85.00n/a10
Sep ’23US$84.42
US$92.70
+9.8%
4.3%US$100.00US$85.00n/a10
Aug ’23US$87.46
US$89.80
+2.7%
3.7%US$95.00US$85.00n/a10
Jul ’23US$83.37
US$88.55
+6.2%
3.8%US$94.00US$80.00n/a11
Jun ’23US$83.96
US$88.00
+4.8%
4.3%US$94.00US$80.00n/a10
May ’23US$80.77
US$88.33
+9.4%
4.5%US$94.00US$80.00n/a9
Apr ’23US$81.91
US$86.75
+5.9%
4.1%US$91.00US$80.00n/a8
Mar ’23US$77.49
US$86.86
+12.1%
4.7%US$92.00US$80.00n/a7
Feb ’23US$77.15
US$85.63
+11.0%
5.7%US$92.00US$78.00n/a8
Jan ’23US$82.05
US$86.13
+5.0%
5.6%US$91.00US$78.00n/a8
Dec ’22US$75.50
US$86.13
+14.1%
5.6%US$91.00US$78.00n/a8
Nov ’22US$78.30
US$85.88
+9.7%
5.9%US$91.00US$77.00US$76.708
Oct ’22US$74.14
US$86.56
+16.7%
5.8%US$91.00US$77.00US$69.809
Sep ’22US$78.60
US$85.75
+9.1%
5.7%US$90.00US$77.00US$84.428
Aug ’22US$80.69
US$83.88
+3.9%
6.7%US$90.00US$73.00US$87.468
Jul ’22US$74.70
US$80.63
+7.9%
9.1%US$90.00US$67.00US$83.378
Jun ’22US$77.07
US$77.13
+0.07%
6.5%US$85.00US$67.00US$83.968
May ’22US$74.89
US$74.69
-0.3%
5.6%US$81.00US$67.00US$80.778
Apr ’22US$72.36
US$75.50
+4.3%
5.2%US$81.00US$67.00US$81.918
Mar ’22US$68.24
US$75.38
+10.5%
5.3%US$81.00US$67.00US$77.498
Feb ’22US$67.26
US$75.25
+11.9%
5.3%US$81.00US$67.00US$77.158
Jan ’22US$70.58
US$75.38
+6.8%
5.3%US$81.00US$67.00US$82.058
Dec ’21US$70.15
US$75.50
+7.6%
5.4%US$81.00US$67.00US$75.508
Nov ’21US$62.61
US$75.00
+19.8%
5.3%US$81.00US$67.00US$78.308

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


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