W.P. Carey (NYSE:WPC) Hits New 1-Year High After Analyst Upgrade

Key Points

• W.P. Carey shares hit a new 52-week high following an upgrade by Wells Fargo, increasing its price target from $68.00 to $72.00.
• As of the latest report, institutional investors own 73.73% of W.P. Carey, indicating strong confidence from large shareholders in the real estate investment trust.
• The company's quarterly earnings surpassed expectations, with a reported $1.28 EPS, exceeding the consensus estimate of $1.23 by $0.05.

W.P. Carey Inc. (NYSE:WPC - Get Free Report) shares reached a new 52-week high during trading on Thursday after Wells Fargo & Company upgraded the stock from an equal weight rating to an overweight rating. Wells Fargo & Company now has a $72.00 price target on the stock, up from their previous price target of $68.00. W.P. Carey traded as high as $68.31 and last traded at $68.27, with a volume of 310293 shares. The stock had previously closed at $67.46.

Other equities analysts have also issued reports about the stock. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Barclays lifted their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research note on Monday, June 9th. Evercore ISI lifted their price target on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Finally, Scotiabank upped their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $66.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its holdings in W.P. Carey by 4.7% during the second quarter. Osaic Holdings Inc. now owns 217,051 shares of the real estate investment trust's stock worth $13,548,000 after buying an additional 9,706 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of W.P. Carey by 7.8% in the second quarter. Thrivent Financial for Lutherans now owns 64,552 shares of the real estate investment trust's stock valued at $4,030,000 after purchasing an additional 4,668 shares during the period. TT Capital Management LLC increased its stake in shares of W.P. Carey by 21.9% during the 2nd quarter. TT Capital Management LLC now owns 66,393 shares of the real estate investment trust's stock valued at $4,142,000 after acquiring an additional 11,919 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in W.P. Carey by 1.8% during the second quarter. Pathway Financial Advisers LLC now owns 37,573 shares of the real estate investment trust's stock worth $2,344,000 after purchasing an additional 669 shares during the period. Finally, Clarion Wealth Managment Partners LLC acquired a new position in W.P. Carey in the second quarter valued at $1,315,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Up 1.2%

The stock has a fifty day moving average price of $64.85 and a 200-day moving average price of $62.95. The firm has a market cap of $14.95 billion, a PE ratio of 44.92, a PEG ratio of 9.86 and a beta of 0.82. 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 (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The company had revenue of $430.78 million for the quarter, compared to analysts' expectations of $420.99 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The firm's quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Research analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

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.

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