UBS Group Lowers W. P. Carey (NYSE:WPC) Price Target to $60.00

W. P. Carey (NYSE:WPC) had its target price dropped by stock analysts at UBS Group from $62.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s target price indicates a potential upside of 7.58% from the stock’s current price.

WPC has been the subject of a number of other reports. Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Barclays upped their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $55.77 on Thursday. The stock has a market cap of $12.21 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. W. P. Carey has a 12 month low of $53.09 and a 12 month high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $59.52 and a 200-day simple moving average of $58.19.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 earnings per share. On average, sell-side analysts anticipate that W. P. Carey will post 4.52 EPS for the current fiscal year.

Institutional Trading of W. P. Carey

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of W. P. Carey by 660.9% during the 3rd 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 purchasing an additional 1,784,131 shares during the period. Massachusetts Financial Services Co. MA increased its stake in W. P. Carey by 22.2% during 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 acquiring an additional 588,636 shares during the period. Victory Capital Management Inc. raised its holdings in W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after acquiring an additional 479,973 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after acquiring an additional 444,785 shares during the period. Finally, Equity Investment Corp grew its holdings in shares of W. P. Carey by 38.9% during the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after purchasing an additional 412,450 shares in the last quarter. Institutional investors and hedge funds 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.