W.P. Carey (NYSE:WPC) Price Target Raised to $70.00

Key Points

• Evercore ISI has raised the target price for W.P. Carey (NYSE:WPC) from $66.00 to $70.00, indicating a potential upside of 2.04% based on the stock's previous close.
• Currently, W.P. Carey holds a consensus rating of "Hold" with a price target averaging $67.22, while having various ratings from different analysts including three Buy, six Hold, and one Sell.
• W.P. Carey recently reported a quarterly earnings per share of $1.28, exceeding expectations and reflecting a year-over-year revenue increase of 10.5%.

W.P. Carey (NYSE:WPC - Get Free Report) had its target price increased by research analysts at Evercore ISI from $66.00 to $70.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective would indicate a potential upside of 2.04% from the stock's previous close.

Several other analysts have also recently issued reports on WPC. Barclays upped their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. UBS Group raised their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a report on Monday, June 9th. Finally, Royal Bank Of Canada raised their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, W.P. Carey currently has a consensus rating of "Hold" and a consensus price target of $67.22.

W.P. Carey Price Performance

Shares of WPC traded down $0.10 during mid-day trading on Monday, hitting $68.60. 86,357 shares of the stock were exchanged, compared to its average volume of 1,224,386. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market cap of $15.02 billion, a PE ratio of 45.12, a price-to-earnings-growth ratio of 10.00 and a beta of 0.82. W.P. Carey has a 52-week low of $52.91 and a 52-week high of $69.00. The firm has a 50-day moving average of $65.08 and a two-hundred day moving average of $63.01.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $430.78 million for the quarter, compared to analysts' expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities analysts predict that W.P. Carey will post 4.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of W.P. Carey by 274.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock worth $322,630,000 after purchasing an additional 3,747,898 shares during the last quarter. Geode Capital Management LLC raised its holdings in W.P. Carey by 1.9% in the second quarter. Geode Capital Management LLC now owns 4,606,018 shares of the real estate investment trust's stock worth $286,581,000 after purchasing an additional 87,150 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of W.P. Carey by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust's stock valued at $266,224,000 after buying an additional 195,466 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of W.P. Carey by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,769,189 shares of the real estate investment trust's stock valued at $172,742,000 after buying an additional 106,879 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of W.P. Carey by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust's stock worth $170,198,000 after buying an additional 55,615 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.

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