W.P. Carey (NYSE:WPC) Upgraded by Bank of America to Neutral Rating

W.P. Carey (NYSE:WPC) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a $83.00 price target on the real estate investment trust’s stock, up from their previous price target of $73.00. Bank of America‘s price objective would suggest a potential upside of 10.07% from the stock’s previous close.

Several other equities research analysts have also recently commented on WPC. Barclays upped their price target on W.P. Carey from $72.00 to $78.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 19th. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Monday, June 8th. Scotiabank upped their price target on W.P. Carey from $73.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 12th. Raymond James Financial upgraded W.P. Carey from a “market perform” rating to an “outperform” rating and set a $76.00 price target for the company in a research note on Tuesday, March 17th. Finally, Weiss Ratings upgraded W.P. Carey from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.45.

W.P. Carey Trading Down 1.7%

WPC opened at $75.41 on Tuesday. The firm has a market cap of $16.80 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 3.28 and a beta of 0.76. W.P. Carey has a 52 week low of $61.09 and a 52 week high of $76.97. The business’s 50 day moving average is $73.51 and its two-hundred day moving average is $70.47. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.04.

W.P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.30 EPS for the quarter, topping the consensus estimate of $0.61 by $0.69. W.P. Carey had a return on equity of 6.29% and a net margin of 29.35%.The business had revenue of $454.51 million during the quarter, compared to analysts’ expectations of $430.64 million. During the same quarter in the prior year, the business earned $1.17 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. W.P. Carey has set its FY 2026 guidance at 5.160-5.260 EPS. On average, research analysts predict that W.P. Carey will post 5.04 EPS for the current year.

Insider Activity at W.P. Carey

In related news, CAO Brian H. Zander sold 433 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $74.00, for a total value of $32,042.00. Following the completion of the sale, the chief accounting officer owned 13,882 shares in the company, valued at $1,027,268. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is owned by company insiders.

Institutional Trading of W.P. Carey

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in W.P. Carey by 416.8% in the third quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock valued at $263,014,000 after purchasing an additional 3,139,266 shares during the last quarter. Norges Bank acquired a new stake in W.P. Carey in the fourth quarter valued at $184,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in W.P. Carey by 31,629.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust’s stock valued at $139,229,000 after purchasing an additional 2,156,467 shares during the last quarter. Wellington Management Group LLP grew its holdings in W.P. Carey by 1,183.6% in the third quarter. Wellington Management Group LLP now owns 1,130,402 shares of the real estate investment trust’s stock valued at $76,381,000 after purchasing an additional 1,042,334 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in W.P. Carey by 2,712.0% in the second quarter. Captrust Financial Advisors now owns 771,534 shares of the real estate investment trust’s stock valued at $48,128,000 after purchasing an additional 744,097 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 Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.