W. P. Carey (NYSE:WPC) Given New $60.00 Price Target at Barclays

W. P. Carey (NYSE:WPC) had its price target hoisted by equities research analysts at Barclays from $56.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s target price suggests a potential downside of 7.22% from the company’s previous close.

WPC has been the topic of several other reports. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Scotiabank decreased 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 note on Thursday, January 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, 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 research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Up 0.7 %

Shares of WPC opened at $64.67 on Tuesday. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $64.87. The firm has a market capitalization of $14.15 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $56.77 and its 200 day simple moving average is $57.96.

Institutional Investors Weigh In On W. P. Carey

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of W. P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock worth $1,679,110,000 after buying an additional 242,576 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of W. P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock valued at $256,201,000 after purchasing an additional 135,090 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in W. P. Carey by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock worth $143,926,000 after purchasing an additional 43,197 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in W. P. Carey by 40.3% in 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 buying an additional 758,627 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.