W. P. Carey (NYSE:WPC) PT Raised to $56.00

W. P. Carey (NYSE:WPC) had its price objective lifted by equities research analysts at Barclays from $54.00 to $56.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential downside of 6.35% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their target price on shares of 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 price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Evercore ISI boosted their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Stock Up 0.8 %

WPC stock opened at $59.80 on Thursday. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.11 and a beta of 0.94. W. P. Carey has a twelve month low of $51.60 and a twelve month high of $67.40. The business has a 50 day moving average price of $60.20 and a two-hundred day moving average price of $57.91. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

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

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the transaction, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.08% of the company’s stock.

Institutional Trading of W. P. Carey

Several hedge funds and other institutional investors have recently bought and sold shares of WPC. Equity Investment Corp acquired a new position in shares of W. P. Carey during the 1st quarter worth approximately $59,802,000. Vanguard Group Inc. boosted its stake in shares of W. P. Carey by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after buying an additional 657,188 shares during the period. Massachusetts Financial Services Co. MA grew its position in W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after buying an additional 588,636 shares in the last quarter. Hsbc Holdings PLC increased its stake in W. P. Carey by 185.7% during the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after acquiring an additional 444,785 shares during the period. Finally, PGGM Investments raised its holdings in W. P. Carey by 18.5% in the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after acquiring an additional 389,853 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.