W.P. Carey (NYSE:WPC) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Wells Fargo & Company upgraded W.P. Carey from an "equal weight" to an "overweight" rating, with a new target price of $72.00, indicating a potential upside of 6.60% from the current price.
• Other research firms have also revised their price targets for W.P. Carey, with the average price target now at $66.78, which reflects a mixture of ratings including three Buy, six Hold, and one Sell.
• W.P. Carey reported strong quarterly earnings, with EPS of $1.28 exceeding estimates and revenue increasing 10.5% year-over-year to $430.78 million.

W.P. Carey (NYSE:WPC - Get Free Report) was upgraded by analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research note issued on Thursday,Benzinga reports. The firm currently has a $72.00 target price on the real estate investment trust's stock, up from their prior target price of $68.00. Wells Fargo & Company's price target would suggest a potential upside of 6.60% from the stock's current price.

A number of other research firms also recently issued reports on WPC. Scotiabank raised their price target on W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research note on Friday, September 5th. UBS Group upped their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research report on Monday, June 9th. Barclays upped their price objective on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. 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 research report on Thursday, July 31st. Three 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. Based on data from MarketBeat.com, W.P. Carey currently has an average rating of "Hold" and a consensus target price of $66.78.

W.P. Carey Stock Down 0.3%

WPC stock opened at $67.55 on Thursday. W.P. Carey has a 1-year low of $52.91 and a 1-year high of $68.28. The business has a fifty day moving average price of $64.85 and a 200-day moving average price of $62.95. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market capitalization of $14.79 billion, a P/E ratio of 44.44, a P/E/G ratio of 9.86 and a beta of 0.82.

W.P. Carey (NYSE:WPC - Get Free Report) last posted 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. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. The company's 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. Equities analysts forecast that W.P. Carey will post 4.87 earnings per share for the current fiscal year.

Institutional Trading of W.P. Carey

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of W.P. Carey by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock valued at $758,000 after acquiring an additional 1,442 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock worth $38,272,000 after purchasing an additional 26,665 shares in the last quarter. Capital Advisors Inc. OK purchased a new stake in shares of W.P. Carey during the first quarter worth about $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of W.P. Carey by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock worth $119,235,000 after purchasing an additional 134,523 shares in the last quarter. Finally, Ethos Financial Group LLC purchased a new stake in shares of W.P. Carey during the first quarter worth about $372,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.