W. P. Carey (NYSE:WPC) Rating Reiterated by Wells Fargo & Company

W. P. Carey (NYSE:WPC)‘s stock had its “equal weight” rating restated by research analysts at Wells Fargo & Company in a note issued to investors on Tuesday, Benzinga reports. They currently have a $63.00 price target on the real estate investment trust’s stock, up from their prior price target of $62.00. Wells Fargo & Company‘s price target suggests a potential upside of 2.67% from the stock’s current price.

Several other brokerages have also recently weighed in on WPC. Royal Bank of Canada decreased their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. UBS Group increased their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. decreased their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.25.

W. P. Carey Price Performance

WPC stock traded down $0.94 during midday trading on Tuesday, reaching $61.36. 247,665 shares of the stock were exchanged, compared to its average volume of 1,232,143. The stock has a market capitalization of $13.43 billion, a PE ratio of 23.45, a P/E/G ratio of 1.18 and a beta of 0.94. W. P. Carey has a 52 week low of $51.36 and a 52 week high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The company has a fifty day moving average price of $59.98 and a 200 day moving average price of $57.66.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the prior year, the firm earned $1.36 EPS. The company’s revenue was down 13.9% on a year-over-year basis. As a group, analysts expect that W. P. Carey will post 4.52 EPS for the current fiscal year.

Insider Buying and Selling at W. P. Carey

In related news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.08% of the company’s stock.

Institutional Trading of W. P. Carey

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in W. P. Carey by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after buying an additional 187,022 shares during the last quarter. Cohen & Steers Inc. grew its position in shares of W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after purchasing an additional 5,407,289 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of W. P. Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of W. P. Carey by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after purchasing an additional 7,549 shares in the last quarter. 73.73% of the stock is currently owned by 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.