Royal Bank of Canada Raises W. P. Carey (NYSE:WPC) Price Target to $62.00

W. P. Carey (NYSE:WPC - Get Free Report) had its price target upped by stock analysts at Royal Bank of Canada from $61.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank of Canada's price target suggests a potential upside of 5.59% from the stock's current price.

Several other research firms have also recently weighed in on WPC. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday. Barclays lowered their price target on shares of W. P. Carey from $59.00 to $56.00 and set an "underweight" rating on the stock in a report on Tuesday, February 4th. UBS Group lowered 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 report on Thursday, November 14th. Finally, Scotiabank lowered their price target on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey currently has an average rating of "Hold" and an average target price of $62.00.

W. P. Carey Stock Performance

NYSE:WPC traded down $0.15 during mid-day trading on Thursday, hitting $58.72. The stock had a trading volume of 1,337,284 shares, compared to its average volume of 849,474. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $64.26. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.02 and a beta of 0.97. The company's 50 day simple moving average is $55.44 and its 200 day simple moving average is $57.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WPC. Vanguard Group Inc. increased its stake in W. P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock valued at $1,679,110,000 after acquiring an additional 242,576 shares during the last quarter. Geode Capital Management LLC increased its stake in W. P. Carey by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after acquiring an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in W. P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after acquiring an additional 906,622 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in W. P. Carey by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock valued at $143,926,000 after acquiring an additional 43,197 shares during the last quarter. Finally, Northern Trust Corp increased its stake in W. P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock valued at $143,894,000 after acquiring an additional 758,627 shares during the last quarter. 73.73% of the stock is owned by 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.