W.P. Carey (NYSE:WPC) Given New $72.00 Price Target at Scotiabank

W.P. Carey (NYSE:WPC) had its target price boosted by research analysts at Scotiabank from $67.00 to $72.00 in a report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price points to a potential upside of 4.14% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, January 21st. Evercore ISI lowered their target price on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Royal Bank Of Canada lifted their target price on W.P. Carey from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 7th. Citigroup increased their price target on shares of W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Barclays set a $65.00 price objective on shares of W.P. Carey in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.20.

W.P. Carey Trading Down 0.9%

Shares of NYSE:WPC traded down $0.61 during mid-day trading on Monday, reaching $69.14. 167,006 shares of the company were exchanged, compared to its average volume of 1,225,536. W.P. Carey has a 1 year low of $54.24 and a 1 year high of $70.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.25. The firm’s 50-day simple moving average is $66.59 and its 200 day simple moving average is $66.57. The firm has a market cap of $15.15 billion, a price-to-earnings ratio of 41.90, a P/E/G ratio of 5.95 and a beta of 0.78.

Institutional Investors Weigh In On W.P. Carey

Several institutional investors have recently modified their holdings of WPC. State Street Corp raised its stake in W.P. Carey by 1.0% in the third quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust’s stock valued at $844,065,000 after buying an additional 119,817 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of W.P. Carey by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,606,018 shares of the real estate investment trust’s stock valued at $286,581,000 after acquiring an additional 87,150 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of W.P. Carey by 11.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,213,013 shares of the real estate investment trust’s stock worth $271,150,000 after acquiring an additional 441,526 shares in the last quarter. Invesco Ltd. raised its position in shares of W.P. Carey by 416.8% during the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock worth $263,014,000 after acquiring an additional 3,139,266 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in W.P. Carey by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,171,690 shares of the real estate investment trust’s stock worth $214,315,000 after purchasing an additional 49,992 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

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.