W. P. Carey (NYSE:WPC) Price Target Cut to $68.00

W. P. Carey (NYSE:WPC) had its target price decreased by JPMorgan Chase & Co. from $70.00 to $68.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.58% from the company’s current price.

Several other research firms also recently commented on WPC. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Scotiabank boosted their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. UBS Group initiated coverage on shares of W. P. Carey in a research report on Friday, May 31st. They issued a “neutral” rating and a $57.00 target price for the company. Finally, Royal Bank of Canada decreased their target price 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.45.

W. P. Carey Trading Up 1.3 %

Shares of NYSE:WPC opened at $58.33 on Friday. The stock has a market cap of $12.76 billion, a PE ratio of 22.18, a P/E/G ratio of 1.06 and a beta of 0.93. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey has a 12-month low of $51.36 and a 12-month high of $73.38. The business has a 50 day moving average of $56.65 and a 200-day moving average of $58.12.

Institutional Trading of W. P. Carey

Institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. grew its stake in W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after purchasing an additional 1,124,010 shares during the period. Norges Bank bought a new position in W. P. Carey in the 4th quarter valued at about $157,107,000. Russell Investments Group Ltd. lifted its stake in W. P. Carey by 99.7% during the 4th quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock valued at $22,810,000 after acquiring an additional 175,347 shares in the last quarter. Principal Securities Inc. purchased a new position in W. P. Carey during the fourth quarter worth about $951,000. Finally, M&T Bank Corp grew its holdings in shares of 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 valued at $2,024,000 after acquiring an additional 825 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

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.