W. P. Carey (NYSE:WPC) PT Raised to $66.00

W. P. Carey (NYSE:WPC) had its price target hoisted by stock analysts at Evercore ISI from $63.00 to $66.00 in a report released on Monday, Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential upside of 4.36% from the company’s previous close.

WPC has been the subject of several other reports. JPMorgan Chase & Co. cut their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada dropped their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. UBS Group upped their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Scotiabank dropped their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.30.

W. P. Carey Stock Down 1.1 %

W. P. Carey stock opened at $63.24 on Monday. The company’s 50-day moving average is $59.00 and its 200-day moving average is $57.24. The firm has a market capitalization of $13.84 billion, a PE ratio of 24.03, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. W. P. Carey has a fifty-two week low of $51.36 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same period in the prior year, the business earned $1.36 EPS. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. Sell-side analysts anticipate that W. P. Carey will post 4.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On W. P. Carey

Several hedge funds and other institutional investors have recently modified their holdings of WPC. Sanctuary Advisors LLC bought a new position in W. P. Carey in the second quarter valued at about $1,990,000. KPP Advisory Services LLC bought a new stake in shares of W. P. Carey during the 2nd quarter valued at approximately $222,000. Cetera Investment Advisers increased its position in W. P. Carey by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 362,206 shares of the real estate investment trust’s stock worth $19,939,000 after purchasing an additional 1,870 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in W. P. Carey in the 2nd quarter valued at approximately $1,976,000. Finally, Point72 Asset Management L.P. acquired a new stake in W. P. Carey in the second quarter valued at approximately $1,527,000. Institutional investors own 73.73% of the company’s stock.

About W. P. Carey

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.