Evercore ISI Increases W. P. Carey (NYSE:WPC) Price Target to $66.00

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

Other equities analysts have also issued research reports about the company. Royal Bank of Canada reduced their price objective on W. P. Carey from $63.00 to $62.00 and set an outperform rating on the stock in a research note on Thursday, August 1st. UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a neutral rating in a research report on Thursday, July 18th. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $60.00 to $62.00 and gave the company an equal weight rating in a research report on Monday, August 26th. Scotiabank dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set a sector perform rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of W. P. Carey from $70.00 to $68.00 and set an overweight rating on the stock in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $60.30.

W. P. Carey Trading Up 0.5 %

Shares of W. P. Carey stock opened at $63.55 on Monday. W. P. Carey has a 12-month low of $51.36 and a 12-month high of $67.40. The stock has a market capitalization of $13.91 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The company has a 50-day simple moving average of $59.16 and a 200 day simple moving average of $57.29. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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). The firm 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%. The business’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 EPS. Research analysts expect that W. P. Carey will post 4.52 earnings per share for the current fiscal year.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of W. P. Carey stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares in the company, valued at $2,129,987.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On W. P. Carey

Several hedge funds have recently added to or reduced their stakes in WPC. Gilbert & Cook Inc. increased its stake in shares of W. P. Carey by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 314 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in W. P. Carey by 13.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,884 shares of the real estate investment trust’s stock valued at $835,000 after purchasing an additional 1,558 shares in the last quarter. Quadrant Capital Group LLC increased its stake in W. P. Carey by 71.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,312 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 964 shares in the last quarter. Level Four Advisory Services LLC acquired a new stake in W. P. Carey in the fourth quarter worth $292,000. Finally, Securian Asset Management Inc. bought a new position in shares of W. P. Carey during the fourth quarter worth $1,196,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

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.