Barclays Cuts W. P. Carey (NYSE:WPC) Price Target to $56.00

W. P. Carey (NYSE:WPC - Get Free Report) had its target price decreased by Barclays from $59.00 to $56.00 in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has an "underweight" rating on the real estate investment trust's stock. Barclays's target price would indicate a potential downside of 0.14% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research note on Friday, January 10th. UBS Group reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Finally, Scotiabank dropped their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $62.00.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded down $0.02 during midday trading on Tuesday, hitting $56.08. 639,070 shares of the company were exchanged, compared to its average volume of 934,475. The firm has a 50 day simple moving average of $55.30 and a 200-day simple moving average of $57.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $12.27 billion, a P/E ratio of 22.08, a PEG ratio of 1.01 and a beta of 0.97. W. P. Carey has a 52 week low of $52.91 and a 52 week high of $64.26.

Institutional Trading of W. P. Carey

Hedge funds have recently modified their holdings of the stock. National Pension Service bought a new position in W. P. Carey in the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the fourth quarter valued at $37,000. Maia Wealth LLC bought a new position in W. P. Carey in the third quarter valued at about $40,000. Abich Financial Wealth Management LLC increased its position in W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 641 shares during the period. Finally, Fortitude Family Office LLC increased its position in W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 616 shares during the period. 73.73% of the stock is owned by institutional investors.

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.