W. P. Carey (NYSE:WPC) Given Market Perform Rating at JMP Securities

W. P. Carey (NYSE:WPC)‘s stock had its “market perform” rating restated by equities research analysts at JMP Securities in a report released on Thursday,Benzinga reports.

Several other research firms have also recently issued reports on WPC. Scotiabank reduced their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Barclays cut their target price on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.00.

W. P. Carey Price Performance

WPC traded up $0.64 on Thursday, hitting $58.34. 288,602 shares of the company’s stock traded hands, compared to its average volume of 954,199. The company’s 50 day simple moving average is $55.33 and its 200-day simple moving average is $57.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey has a one year low of $52.91 and a one year high of $64.26. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.02 and a beta of 0.97.

Institutional Trading of W. P. Carey

Several hedge funds have recently made changes to their positions in WPC. National Pension Service purchased a new position in W. P. Carey in the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey in the 4th quarter worth approximately $37,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey in the 4th quarter worth approximately $37,000. Maia Wealth LLC bought a new position in shares of W. P. Carey during the 3rd quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC raised its holdings in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.