Scotiabank Forecasts Strong Price Appreciation for W.P. Carey (NYSE:WPC) Stock

W.P. Carey (NYSE:WPC) had its target price upped by research analysts at Scotiabank from $76.00 to $77.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 7.75% from the stock’s previous close.

Several other research analysts have also weighed in on WPC. Royal Bank Of Canada boosted their price objective on shares of W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $73.00 to $88.00 in a research report on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Finally, Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $83.00 in a report on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, W.P. Carey currently has a consensus rating of “Hold” and an average target price of $79.38.

W.P. Carey Stock Performance

NYSE WPC traded up $0.78 on Thursday, hitting $71.47. 102,431 shares of the stock were exchanged, compared to its average volume of 1,400,674. The company has a market capitalization of $16.28 billion, a PE ratio of 24.39, a P/E/G ratio of 3.49 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The business’s fifty day moving average is $73.21 and its 200 day moving average is $72.42. W.P. Carey has a 52 week low of $63.08 and a 52 week high of $77.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobi Capital Management LLC increased its position in W.P. Carey by 2.5% during the 4th quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 145 shares during the period. Gen Wealth Partners Inc lifted its holdings in shares of W.P. Carey by 2.0% during the fourth quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 146 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of W.P. Carey by 0.7% in the first quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock valued at $1,459,000 after acquiring an additional 146 shares during the period. Turning Point Benefit Group Inc. boosted its position in shares of W.P. Carey by 6.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 148 shares during the period. Finally, Vanderbilt University grew its stake in shares of W.P. Carey by 1.1% in the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

About W.P. Carey

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.