W. P. Carey (NYSE:WPC) Price Target Raised to $64.00 at Evercore ISI

W. P. Carey (NYSE:WPC - Get Free Report) had its target price hoisted by equities researchers at Evercore ISI from $60.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price indicates a potential upside of 3.76% from the company's current price.

Other analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday. Finally, Barclays dropped their price objective on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $62.38.

W. P. Carey Price Performance

Shares of WPC stock traded up $0.48 during trading hours on Wednesday, hitting $61.68. 2,360,478 shares of the company's stock were exchanged, compared to its average volume of 1,070,161. The company has a market capitalization of $13.50 billion, a PE ratio of 29.51, a PEG ratio of 1.04 and a beta of 0.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey has a 12-month low of $52.91 and a 12-month high of $64.26. The business's 50 day simple moving average is $55.78 and its 200-day simple moving average is $57.64.

Hedge Funds Weigh In On W. P. Carey

A number of hedge funds have recently added to or reduced their stakes in WPC. National Pension Service bought a new stake in shares of W. P. Carey in the 4th quarter worth $25,000. Maia Wealth LLC bought a new stake in shares of W. P. Carey in the third quarter worth approximately $40,000. Abich Financial Wealth Management LLC lifted its position in W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 641 shares during the period. Millstone Evans Group LLC purchased a new stake in W. P. Carey in the fourth quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey in the 4th quarter worth approximately $37,000. 73.73% of the stock is currently owned by hedge funds and other 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.