W. P. Carey (NYSE:WPC) Upgraded by BNP Paribas to "Hold" Rating

W. P. Carey (NYSE:WPC - Get Free Report) was upgraded by research analysts at BNP Paribas from a "strong sell" rating to a "hold" rating in a research report issued on Monday, Marketbeat.com reports.

Several other equities analysts also recently weighed in on WPC. Scotiabank increased their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. BNP Paribas Exane upgraded shares of W. P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a research note on Monday. UBS Group decreased their target price on shares of W. P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Royal Bank of Canada upped their price target on shares of W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $100.40.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.31 on Monday, hitting $63.03. 277,006 shares of the company were exchanged, compared to its average volume of 1,169,243. 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's 50 day moving average price is $61.01 and its 200 day moving average price is $59.15. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $66.10. The firm has a market capitalization of $13.80 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. Sell-side analysts predict that W. P. Carey will post 4.87 EPS for the current year.

Hedge Funds Weigh In On W. P. Carey

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in W. P. Carey by 274.7% in the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after purchasing an additional 3,747,898 shares during the period. Norges Bank purchased a new position in shares of W. P. Carey during the 4th quarter valued at approximately $139,381,000. Pacer Advisors Inc. grew its stake in W. P. Carey by 1,016.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock valued at $110,564,000 after acquiring an additional 1,595,045 shares during the period. Demars Financial Group LLC increased its holdings in W. P. Carey by 10,001.1% in the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock worth $54,387,000 after acquiring an additional 988,409 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after acquiring an additional 906,622 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.