WP Carey

W. P. Carey pulled back during today's U.S. trading session, opening at $74.61 and reaching an intraday high of $74.85 in the morning session before weakening, closing at $73.98, down roughly 0.8%, with further declines in after-hours trading to $72.89, primarily reflecting profit-taking following strong first-quarter results. The Q1 earnings report showed EPS growth of 40.2% YoY to $0.80, revenue of $447.6 million up 8.89% YoY, and net income up 40.12% YoY; the company subsequently raised its full-year AFFO guidance, prompting analyst John Kim to raise the price target to $86. On valuation metrics, the stock has appreciated 14% year-to-date and trades just 2.26% below its 52-week high of $75.69, sitting near elevated levels. However, the current P/E ratio of 31.88 suggests relatively rich valuation, which may be a factor behind today's pullback.