Barclays Reaffirms “Underweight” Rating for W. P. Carey (NYSE:WPC)

W. P. Carey (NYSE:WPC)‘s stock had its “underweight” rating reissued by investment analysts at Barclays in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $59.00 target price on the real estate investment trust’s stock, up from their prior target price of $56.00. Barclays‘s price objective would indicate a potential upside of 8.84% from the stock’s previous close.

A number of other analysts have also recently issued reports on WPC. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Monday. UBS Group lowered their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Evercore ISI lifted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $54.21 on Tuesday. W. P. Carey has a 52 week low of $53.09 and a 52 week high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.04 and a beta of 0.96. The firm has a fifty day moving average of $57.02 and a two-hundred day moving average of $58.03.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. As a group, equities research analysts predict that W. P. Carey will post 4.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its holdings in W. P. Carey by 20.4% in the 3rd quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust’s stock valued at $9,898,000 after buying an additional 28,022 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in W. P. Carey during the third quarter valued at approximately $262,000. Toronto Dominion Bank lifted its stake in W. P. Carey by 31.4% during the third quarter. Toronto Dominion Bank now owns 27,551 shares of the real estate investment trust’s stock worth $1,716,000 after purchasing an additional 6,586 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of W. P. Carey by 323.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 47,132 shares of the real estate investment trust’s stock valued at $2,921,000 after purchasing an additional 36,001 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of W. P. Carey by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after purchasing an additional 127,477 shares during 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.