W.P. Carey (NYSE:WPC) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group has raised its price target for W.P. Carey from $63.00 to $66.00, maintaining a "neutral" rating which reflects a potential upside of 1.44% from the previous close.
• Multiple research firms, including BNP Paribas and Evercore ISI, have also set a target price of $66.00 for W.P. Carey, indicating a consistent outlook among analysts.
• In the latest earnings report, W.P. Carey reported an EPS of $1.28, exceeding analyst estimates of $1.23, with quarterly revenue rising 10.5% compared to the previous year.

W.P. Carey (NYSE:WPC - Get Free Report) had its price target hoisted by equities researchers at UBS Group from $63.00 to $66.00 in a report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price objective indicates a potential upside of 2.11% from the stock's previous close.

WPC has been the subject of several other reports. Evercore ISI increased their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a research report on Monday, June 9th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Barclays set a $61.00 price target on W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada upped their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $65.33.

W.P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.49 on Friday, hitting $64.64. The company's stock had a trading volume of 1,061,006 shares, compared to its average volume of 1,396,159. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 9.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. W.P. Carey has a 12 month low of $52.91 and a 12 month high of $66.64. The stock's 50-day moving average is $63.67 and its two-hundred day moving average is $61.97.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.05. The business had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, equities research analysts forecast that W.P. Carey will post 4.87 EPS for the current year.

Institutional Investors Weigh In On W.P. Carey

A number of institutional investors and hedge funds have recently modified their holdings of the stock. von Borstel & Associates Inc. purchased a new position in W.P. Carey in the 1st quarter worth about $26,000. MTM Investment Management LLC acquired a new position in shares of W.P. Carey in the second quarter worth about $28,000. TCTC Holdings LLC increased its position in shares of W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 242 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of W.P. Carey during the second quarter valued at approximately $30,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of W.P. Carey in the 1st quarter valued at approximately $37,000. 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.