W. P. Carey (NYSE:WPC) Stock Price Expected to Rise, Scotiabank Analyst Says

W. P. Carey (NYSE:WPC) had its price target lifted by analysts at Scotiabank from $59.00 to $63.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 2.28% from the company’s current price.

WPC has been the subject of several other reports. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada raised their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Price Performance

NYSE WPC opened at $61.60 on Wednesday. The business’s fifty day moving average price is $58.27 and its 200-day moving average price is $58.28. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $66.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPC. Norges Bank purchased a new position in W. P. Carey in the fourth quarter worth about $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in W. P. Carey by 660.9% in the third 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 grew its position in W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after acquiring an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in W. P. Carey by 29.1% in 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 acquiring an additional 906,622 shares in the last quarter. Finally, Northern Trust Corp grew its position 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 worth $143,894,000 after acquiring an additional 758,627 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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.