Evercore ISI Boosts W. P. Carey (NYSE:WPC) Price Target to $64.00

W. P. Carey (NYSE:WPC) had its price objective boosted by investment analysts at Evercore ISI from $60.00 to $64.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective indicates a potential upside of 6.14% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Scotiabank cut their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. UBS Group decreased their target price on 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. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays lowered their price objective 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, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $67.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.38.

W. P. Carey Price Performance

NYSE WPC traded down $0.10 during mid-day trading on Wednesday, hitting $60.30. The stock had a trading volume of 286,396 shares, compared to its average volume of 1,006,155. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50 day moving average is $55.58 and its 200 day moving average is $57.60. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.01 and a beta of 0.97. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $64.26.

Institutional Trading of W. P. Carey

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPC. Creative Planning increased its stake in W. P. Carey by 0.3% in the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after buying an additional 207 shares during the period. Blue Trust Inc. lifted its holdings in shares of W. P. Carey by 64.8% in the 3rd quarter. Blue Trust Inc. now owns 1,559 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 613 shares during the period. Capital Investment Advisors LLC purchased a new stake in shares of W. P. Carey during the 3rd quarter worth $204,000. Raymond James & Associates increased its holdings in W. P. Carey by 2.8% in the third quarter. Raymond James & Associates now owns 370,669 shares of the real estate investment trust’s stock valued at $23,093,000 after buying an additional 10,152 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of W. P. Carey by 70.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 341 shares during the last quarter. 73.73% of the stock is 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.