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

W. P. Carey (NYSE:WPC) had its price objective hoisted by Wells Fargo & Company from $58.00 to $66.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on WPC. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Evercore ISI boosted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Trading Down 1.6 %

Shares of NYSE:WPC opened at $61.97 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a 50 day moving average price of $58.12 and a 200 day moving average price of $58.25.

Institutional Investors Weigh In On W. P. Carey

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of W. P. Carey during the fourth quarter worth $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Demars Financial Group LLC raised its stake in shares of W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after purchasing an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of W. P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after buying an additional 906,622 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of W. P. Carey by 40.3% in the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock valued at $143,894,000 after buying an additional 758,627 shares in the last quarter. Hedge funds and other institutional investors 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.