W. P. Carey (NYSE:WPC) Rating Increased to Neutral at BNP Paribas Exane

BNP Paribas Exane upgraded shares of W. P. Carey (NYSE:WPC) from an underperform rating to a neutral rating in a research note released on Monday morning, Marketbeat reports. They currently have $66.00 target price on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. UBS Group decreased their target price on W. P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada upped their target price on W. P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Evercore ISI upped their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Finally, Barclays set a $61.00 target price on W. P. Carey and gave the company an “underweight” rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $100.40.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $63.31 on Monday. The business’s 50 day moving average price is $61.01 and its two-hundred day moving average price is $59.15. The company has a market cap of $13.86 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey has a twelve month low of $52.91 and a twelve month high of $66.10.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. W. P. Carey’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. On average, analysts predict that W. P. Carey will post 4.87 EPS for the current year.

Institutional Investors Weigh In On W. P. Carey

Several institutional investors have recently made changes to their positions in WPC. National Pension Service bought a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new stake in W. P. Carey during the first quarter worth $26,000. TCTC Holdings LLC lifted its stake in W. P. Carey by 100.8% during the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 242 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey during the fourth quarter worth $37,000. Finally, Millstone Evans Group LLC bought a new stake in W. P. Carey during the fourth quarter worth $37,000. 73.73% of the stock is currently 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.