W. P. Carey (NYSE:WPC) Given New $59.00 Price Target at Scotiabank

W. P. Carey (NYSE:WPC) had its target price dropped by analysts at Scotiabank from $60.00 to $59.00 in a report released on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 6.74% from the stock’s previous close.

Several other research firms have also issued reports on WPC. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays restated an “underweight” rating and set a $59.00 target price (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Finally, UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.43.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $1.01 during trading on Thursday, hitting $55.28. 325,236 shares of the stock traded hands, compared to its average volume of 1,094,155. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 0.97 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey has a 52 week low of $52.91 and a 52 week high of $66.99. The firm’s fifty day moving average is $55.53 and its 200-day moving average is $57.81.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. Research analysts expect that W. P. Carey will post 4.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Prairiewood Capital LLC boosted its stake in shares of W. P. Carey by 5.6% during the 4th quarter. Prairiewood Capital LLC now owns 70,612 shares of the real estate investment trust’s stock valued at $3,847,000 after purchasing an additional 3,744 shares in the last quarter. UMB Bank n.a. boosted its position in W. P. Carey by 33.8% during the 4th quarter. UMB Bank n.a. now owns 1,930 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 488 shares in the last quarter. Client 1ST Advisory Group LLC purchased a new position in shares of W. P. Carey during the 4th quarter worth approximately $672,000. Liberty One Investment Management LLC raised its position in shares of W. P. Carey by 9.0% in the 4th quarter. Liberty One Investment Management LLC now owns 12,243 shares of the real estate investment trust’s stock worth $667,000 after acquiring an additional 1,016 shares in the last quarter. Finally, TruWealth Advisors LLC lifted its stake in shares of W. P. Carey by 1.1% in the 4th quarter. TruWealth Advisors LLC now owns 242,277 shares of the real estate investment trust’s stock valued at $13,199,000 after purchasing an additional 2,699 shares during the period. 73.73% of the stock is 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.