UBS Group Cuts W. P. Carey (NYSE:WPC) Price Target to $60.00

W. P. Carey (NYSE:WPC) had its price target dropped by equities researchers at UBS Group from $62.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective points to a potential upside of 7.58% from the company’s previous close.

Several other analysts have also recently weighed in on WPC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays raised their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Evercore ISI boosted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Scotiabank lowered their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Up 1.7 %

WPC stock opened at $55.77 on Thursday. W. P. Carey has a 1-year low of $53.09 and a 1-year high of $67.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s 50 day moving average is $59.52 and its 200-day moving average is $58.19. The firm has a market cap of $12.21 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the prior year, the company earned $1.32 earnings per share. The business’s revenue was down 11.9% compared to the same quarter last year. Equities analysts anticipate that W. P. Carey will post 4.52 earnings per share for the current fiscal year.

Institutional Trading of W. P. Carey

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vestcor Inc lifted its holdings in W. P. Carey by 608.6% during the third quarter. Vestcor Inc now owns 31,597 shares of the real estate investment trust’s stock worth $1,968,000 after acquiring an additional 27,138 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of W. P. Carey by 2.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 342,773 shares of the real estate investment trust’s stock valued at $21,355,000 after purchasing an additional 8,277 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of W. P. Carey by 7.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 17,699 shares of the real estate investment trust’s stock valued at $1,103,000 after purchasing an additional 1,169 shares during the period. XTX Topco Ltd increased its stake in W. P. Carey by 256.1% during the 3rd quarter. XTX Topco Ltd now owns 24,729 shares of the real estate investment trust’s stock worth $1,541,000 after purchasing an additional 17,784 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in W. P. Carey by 10.6% in the third quarter. Zacks Investment Management now owns 613,806 shares of the real estate investment trust’s stock valued at $38,240,000 after buying an additional 59,075 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

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.