Scotiabank Issues Positive Forecast for W. P. Carey (NYSE:WPC) Stock Price

W. P. Carey (NYSE:WPC) had its target price upped by Scotiabank from $59.00 to $63.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 1.52% from the company’s current price.

Several other analysts have also recently weighed in on WPC. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays increased their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI lifted their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company upped their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday. One 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Performance

W. P. Carey stock traded down $0.90 during midday trading on Wednesday, reaching $62.06. The stock had a trading volume of 114,915 shares, compared to its average volume of 1,109,977. The firm has a market capitalization of $13.58 billion, a PE ratio of 29.71, a P/E/G ratio of 1.06 and a beta of 0.95. The firm’s 50-day moving average price is $57.95 and its 200 day moving average price is $58.23. W. P. Carey has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of W. P. Carey during the 4th quarter valued at about $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in W. P. Carey by 660.9% during the third 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 valued at $127,969,000 after buying an additional 1,784,131 shares during the last quarter. Demars Financial Group LLC raised its position in W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after acquiring an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA boosted its stake 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 worth $219,170,000 after acquiring an additional 906,622 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of W. P. Carey by 40.3% during 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 acquiring an additional 758,627 shares during the period. 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.