W. P. Carey (NYSE:WPC) Upgraded at BMO Capital Markets

W. P. Carey (NYSE:WPC - Get Free Report) was upgraded by analysts at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $67.00 price objective on the real estate investment trust's stock, up from their prior price objective of $60.00. BMO Capital Markets' price target points to a potential upside of 8.63% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. Scotiabank lowered their target price on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada boosted their target price 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. Barclays lowered their target price on shares of 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. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of "Hold" and an average target price of $62.38.

W. P. Carey Stock Up 0.8 %

Shares of W. P. Carey stock traded up $0.48 during trading hours on Tuesday, reaching $61.68. 2,360,478 shares of the company were exchanged, compared to its average volume of 1,070,164. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $64.26. The stock's fifty day moving average is $55.87 and its 200 day moving average is $57.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $13.50 billion, a PE ratio of 29.51, a PEG ratio of 1.04 and a beta of 0.97.

Hedge Funds Weigh In On W. P. Carey

Several large investors have recently bought and sold shares of WPC. Creative Planning boosted its stake in W. P. Carey by 0.3% in the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock valued at $4,031,000 after acquiring an additional 207 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of W. P. Carey by 64.8% in the third quarter. Blue Trust Inc. now owns 1,559 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 613 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in shares of W. P. Carey in the third quarter valued at about $204,000. Raymond James & Associates raised its holdings in shares of W. P. Carey by 2.8% in the third quarter. Raymond James & Associates now owns 370,669 shares of the real estate investment trust's stock valued at $23,093,000 after buying an additional 10,152 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of W. P. Carey by 70.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust's stock valued at $51,000 after buying an additional 341 shares during the last quarter. Institutional investors and hedge funds 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.