Brokerages Set W. P. Carey Inc. (NYSE:WPC) Price Target at $60.00

Shares of W. P. Carey Inc. (NYSE:WPC) have been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $60.00.

Several equities research analysts have recently weighed in on WPC shares. Wells Fargo & Company increased their target price 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. JPMorgan Chase & Co. decreased 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 report on Friday, July 12th. UBS Group lifted their price objective 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. Evercore ISI lifted their price objective on shares of W. P. Carey from $61.00 to $63.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Royal Bank of Canada decreased their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of W. P. Carey in the 4th quarter worth approximately $157,107,000. HB Wealth Management LLC grew its position in shares of W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after buying an additional 8,843 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of W. P. Carey in the 4th quarter worth approximately $951,000. CANADA LIFE ASSURANCE Co grew its position in shares of W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after buying an additional 9,324 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of W. P. Carey by 5.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,566 shares of the real estate investment trust’s stock worth $426,000 after buying an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.7 %

Shares of WPC opened at $63.28 on Monday. W. P. Carey has a twelve month low of $51.36 and a twelve month high of $67.40. The company has a market cap of $13.85 billion, a P/E ratio of 24.06, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The company’s fifty day simple moving average is $58.82 and its 200-day simple moving average is $57.19.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share 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 firm had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. During the same period in the prior year, the company posted $1.36 EPS. The company’s revenue was down 13.9% compared to the same quarter last year. As a group, analysts expect that W. P. Carey will post 4.52 EPS for the current year.

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.