JMP Securities Reiterates Market Perform Rating for W. P. Carey (NYSE:WPC)

W. P. Carey (NYSE:WPC)‘s stock had its “market perform” rating reissued by analysts at JMP Securities in a research report issued to clients and investors on Friday, Benzinga reports.

WPC has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada lowered their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. UBS Group began coverage on shares of W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 price target on the stock. Barclays began coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. Finally, Scotiabank raised their price target on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $61.55.

W. P. Carey Price Performance

Shares of WPC opened at $55.12 on Friday. The firm has a market capitalization of $12.06 billion, a PE ratio of 20.96, a PEG ratio of 1.04 and a beta of 0.91. The company’s 50-day moving average is $56.58 and its 200-day moving average is $59.04. W. P. Carey has a fifty-two week low of $51.36 and a fifty-two week high of $73.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

Institutional Investors Weigh In On W. P. Carey

A number of hedge funds have recently made changes to their positions in WPC. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of W. P. Carey in the 3rd quarter valued at approximately $613,000. Envestnet Asset Management Inc. boosted its position in W. P. Carey by 15.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 634,496 shares of the real estate investment trust’s stock worth $34,314,000 after buying an additional 82,614 shares during the period. FMR LLC boosted its position in W. P. Carey by 1.8% during the 3rd quarter. FMR LLC now owns 262,809 shares of the real estate investment trust’s stock worth $14,213,000 after buying an additional 4,685 shares during the period. Invesco Ltd. boosted its position in W. P. Carey by 3.5% during the 3rd quarter. Invesco Ltd. now owns 425,639 shares of the real estate investment trust’s stock worth $23,019,000 after buying an additional 14,318 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in W. P. Carey by 4.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 52,408 shares of the real estate investment trust’s stock worth $2,834,000 after buying an additional 2,262 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.