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

W. P. Carey (NYSE:WPC) had its price target raised by Evercore ISI from $63.00 to $66.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

WPC has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the company an equal weight rating in a research note on Monday, August 26th. JMP Securities reaffirmed a market perform rating on shares of W. P. Carey in a research note on Friday, June 21st. JPMorgan Chase & Co. lowered their price target on shares of W. P. Carey from $70.00 to $68.00 and set an overweight rating for the company in a report on Friday, July 12th. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an outperform rating on the stock in a report on Thursday, August 1st. Finally, Scotiabank lowered 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued 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 target price of $60.30.

W. P. Carey Stock Performance

Shares of NYSE:WPC opened at $63.12 on Monday. W. P. Carey has a 1 year low of $51.36 and a 1 year high of $67.40. The stock has a market capitalization of $13.81 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth 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. The company’s 50 day simple moving average is $59.33 and its 200 day simple moving average is $57.33.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The business had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. W. P. Carey’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. As a group, research analysts predict that W. P. Carey will post 4.52 EPS for the current fiscal year.

Insider Buying and Selling at W. P. Carey

In related news, Director Mark A. Alexander acquired 3,500 shares of the 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 completion of the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On W. P. Carey

Large investors have recently modified their holdings of the company. Richardson Financial Services Inc. bought a new stake in W. P. Carey in the first quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares during the period. Riverview Trust Co bought a new stake in shares of W. P. Carey in the 1st quarter valued at $28,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of W. P. Carey during the 1st quarter valued at $30,000. 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.