W.P. Carey (NYSE:WPC) Upgraded by Jefferies Financial Group to "Strong-Buy" Rating

Key Points

• Jefferies upgraded W.P. Carey to “strong buy,” while the broader analyst consensus remains “moderate buy,” with a $78.71 average price target.
• W.P. Carey shares rose 1.2% to $66.99, below the consensus target and within a 52-week range of $63.08 to $77.22.
• Institutional investors own 73.73% of the stock, with several major funds recently increasing their positions or establishing new stakes.

W.P. Carey (NYSE:WPC - Get Free Report) was upgraded by stock analysts at Jefferies Financial Group to a "strong-buy" rating in a research report issued on Tuesday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. Barclays upgraded shares of W.P. Carey from an "underweight" rating to an "equal weight" rating and set a $80.00 target price for the company in a research note on Friday, September 4th. BMO Capital Markets lowered their price objective on W.P. Carey from $86.00 to $84.00 and set an "outperform" rating for the company in a research report on Thursday, June 18th. Evercore set a $75.00 price objective on W.P. Carey in a research report on Monday. Bank of America raised W.P. Carey from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Finally, Citigroup restated a "market perform" rating on shares of W.P. Carey in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, W.P. Carey currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.71.

W.P. Carey Trading Up 1.2%

NYSE WPC opened at $66.99 on Tuesday. W.P. Carey has a 52 week low of $63.08 and a 52 week high of $77.22. The firm has a 50 day moving average of $71.48 and a two-hundred day moving average of $72.04. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $15.26 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 3.29 and a beta of 0.75.

Institutional Trading of W.P. Carey

Institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in W.P. Carey by 22.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 153,462 shares of the real estate investment trust's stock valued at $10,429,000 after acquiring an additional 27,734 shares during the period. Swedbank AB grew its stake in shares of W.P. Carey by 124.2% during the 4th quarter. Swedbank AB now owns 135,849 shares of the real estate investment trust's stock worth $8,743,000 after purchasing an additional 75,253 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of W.P. Carey during the 4th quarter worth $41,638,000. Hsbc Holdings PLC increased its holdings in shares of W.P. Carey by 8.4% in the 4th quarter. Hsbc Holdings PLC now owns 922,540 shares of the real estate investment trust's stock valued at $59,370,000 after purchasing an additional 71,463 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of W.P. Carey by 2.4% in the first quarter. Bank of America Corp DE now owns 1,365,724 shares of the real estate investment trust's stock valued at $92,815,000 after purchasing an additional 31,476 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

About W.P. Carey

W.P. Carey Inc NYSE: WPC is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.

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