W. P. Carey (NYSE:WPC) PT Lowered to $68.00

W. P. Carey (NYSE:WPC) had its price target cut by investment analysts at JPMorgan Chase & Co. from $70.00 to $68.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.78% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. UBS Group started coverage on shares of W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 target price for the company. Barclays started coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Royal Bank of Canada decreased their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Wells Fargo & Company lowered their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $60.45.

W. P. Carey Stock Performance

Shares of WPC stock traded up $1.17 on Friday, hitting $58.73. 572,472 shares of the stock were exchanged, compared to its average volume of 1,316,573. The firm’s 50 day moving average is $56.61 and its two-hundred day moving average is $58.22. W. P. Carey has a one year low of $51.36 and a one year high of $73.38. The firm has a market capitalization of $12.85 billion, a PE ratio of 22.33, a P/E/G ratio of 1.02 and a beta of 0.93. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87.

Institutional Trading of W. P. Carey

Several institutional investors have recently added to or reduced their stakes in WPC. Daiwa Securities Group Inc. increased its holdings in W. P. Carey by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after buying an additional 1,124,010 shares in the last quarter. Norges Bank bought a new stake in shares of W. P. Carey in the fourth quarter worth approximately $157,107,000. Russell Investments Group Ltd. raised its holdings in shares of W. P. Carey by 99.7% during the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock valued at $22,810,000 after purchasing an additional 175,347 shares during the last quarter. Principal Securities Inc. bought a new position in W. P. Carey during the fourth quarter valued at approximately $951,000. Finally, M&T Bank Corp boosted its holdings in W. P. Carey by 2.7% in the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock worth $2,024,000 after purchasing an additional 825 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other 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.