W. P. Carey (NYSE:WPC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

W. P. Carey (NYSE:WPC) had its price objective boosted by stock analysts at Wells Fargo & Company from $58.00 to $66.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.04% from the stock’s previous close.

WPC has been the topic of several other reports. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Evercore ISI boosted their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. 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. According to data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Trading Up 0.8 %

Shares of W. P. Carey stock traded up $0.55 during mid-day trading on Monday, hitting $65.32. 85,347 shares of the stock were exchanged, compared to its average volume of 1,140,500. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a 50-day simple moving average of $57.75 and a 200 day simple moving average of $58.19.

Institutional Trading of W. P. Carey

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in W. P. Carey during the fourth quarter worth about $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of W. P. Carey by 660.9% in the 3rd 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 worth $127,969,000 after acquiring an additional 1,784,131 shares in the last quarter. Demars Financial Group LLC increased its holdings in W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock valued at $54,387,000 after purchasing an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 29.1% during the fourth 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 purchasing an additional 906,622 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of W. P. Carey by 40.3% during the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock valued at $143,894,000 after purchasing an additional 758,627 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

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.