Royal Bank of Canada Forecasts Strong Price Appreciation for W. P. Carey (NYSE:WPC) Stock

W. P. Carey (NYSE:WPC) had its price objective upped by analysts at Royal Bank of Canada from $61.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target indicates a potential upside of 6.22% from the stock’s current price.

WPC has been the topic of a number of other research reports. Barclays dropped their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Scotiabank lowered 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. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday. Finally, UBS Group cut 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.00.

W. P. Carey Trading Up 1.2 %

Shares of WPC stock traded up $0.67 on Thursday, hitting $58.37. The stock had a trading volume of 556,900 shares, compared to its average volume of 965,517. The firm has a market cap of $12.77 billion, a P/E ratio of 22.97, a PEG ratio of 1.02 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. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a fifty day moving average price of $55.33 and a two-hundred day moving average price of $57.60.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WPC. National Pension Service bought a new position in shares of W. P. Carey in the fourth quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the fourth quarter worth about $37,000. Millstone Evans Group LLC acquired a new position in W. P. Carey during the fourth quarter worth approximately $37,000. Maia Wealth LLC bought a new stake in W. P. Carey in the third quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC lifted its position in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

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.