W.P. Carey (NYSE:WPC) Price Target Raised to $66.00 at Evercore ISI

W.P. Carey (NYSE:WPC - Get Free Report) had its price target raised by analysts at Evercore ISI from $65.00 to $66.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective points to a potential upside of 4.23% from the stock's current price.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company increased their target price on shares of W.P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Royal Bank Of Canada upped their price target on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BNP Paribas set a $66.00 price objective on W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Barclays set a $61.00 target price on W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. Finally, BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a research note on Monday, June 9th. One investment 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's stock. Based on data from MarketBeat, W.P. Carey presently has an average rating of "Hold" and an average target price of $100.60.

W.P. Carey Stock Up 0.5%

Shares of NYSE WPC traded up $0.33 during mid-day trading on Wednesday, reaching $63.32. 953,573 shares of the company were exchanged, compared to its average volume of 1,168,041. W.P. Carey has a 1 year low of $52.91 and a 1 year high of $66.10. The firm has a 50-day moving average of $62.17 and a 200 day moving average of $59.86. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 32.64, a P/E/G ratio of 7.01 and a beta of 0.78. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts expect that W.P. Carey will post 4.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WPC. Oppenheimer & Co. Inc. increased its holdings in W.P. Carey by 22.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 12,550 shares of the real estate investment trust's stock worth $684,000 after buying an additional 2,297 shares during the period. Proficio Capital Partners LLC acquired a new stake in W.P. Carey during the 4th quarter valued at approximately $1,428,000. US Bancorp DE boosted its holdings in shares of W.P. Carey by 8.3% in the 4th quarter. US Bancorp DE now owns 32,764 shares of the real estate investment trust's stock valued at $1,785,000 after acquiring an additional 2,499 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of W.P. Carey by 59.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,099 shares of the real estate investment trust's stock worth $169,000 after acquiring an additional 1,150 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of W.P. Carey in the fourth quarter worth $48,000. 73.73% of the stock is owned by institutional investors and hedge funds.

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.