Scotiabank Forecasts Strong Price Appreciation for W. P. Carey (NYSE:WPC) Stock

W. P. Carey (NYSE:WPC) had its price objective lifted by equities research analysts at Scotiabank from $59.00 to $63.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 1.52% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays boosted their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Down 1.4 %

Shares of WPC traded down $0.90 during midday trading on Wednesday, hitting $62.06. 114,915 shares of the company’s stock traded hands, compared to its average volume of 1,109,977. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $66.10. The firm’s fifty day moving average is $57.95 and its 200-day moving average is $58.23. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

Hedge Funds Weigh In On W. P. Carey

Institutional investors have recently modified their holdings of the stock. RFG Advisory LLC grew its holdings in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 3,049 shares during the period. Equity Investment Corp boosted its position in W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares in the last quarter. Stifel Financial Corp grew its stake in shares of W. P. Carey by 7.0% during the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares during the period. FMR LLC increased its holdings in shares of W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of W. P. Carey during the 3rd quarter valued at approximately $1,267,000. 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.