W.P. Carey (NYSE:WPC) Price Target Cut to $71.00 by Analysts at Evercore ISI

W.P. Carey (NYSE:WPC) had its price target dropped by Evercore ISI from $72.00 to $71.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential upside of 8.36% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, December 9th. Scotiabank increased their target price on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. Finally, Barclays raised their target price on W.P. Carey from $66.00 to $67.00 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, W.P. Carey has a consensus rating of “Hold” and a consensus price target of $68.50.

W.P. Carey Stock Performance

NYSE WPC traded up $0.51 during trading hours on Monday, reaching $65.52. The stock had a trading volume of 101,151 shares, compared to its average volume of 1,224,048. W.P. Carey has a 52-week low of $52.91 and a 52-week high of $69.79. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market cap of $14.36 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 6.08 and a beta of 0.78. The stock has a fifty day moving average of $66.92 and a 200 day moving average of $65.64.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. The business had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Sell-side analysts predict that W.P. Carey will post 4.87 earnings per share for the current year.

Institutional Investors Weigh In On W.P. Carey

Institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted 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 purchasing an additional 3,139,266 shares during the last quarter. Norges Bank acquired a new stake in W.P. Carey in the second quarter valued at $151,411,000. Wellington Management Group LLP boosted its position in shares of W.P. Carey by 1,183.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,130,402 shares of the real estate investment trust’s stock worth $76,381,000 after acquiring an additional 1,042,334 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of W.P. Carey by 2,712.0% in the 2nd quarter. Captrust Financial Advisors now owns 771,534 shares of the real estate investment trust’s stock valued at $48,128,000 after acquiring an additional 744,097 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of W.P. Carey by 331.0% in the 3rd quarter. Barclays PLC now owns 861,430 shares of the real estate investment trust’s stock valued at $58,207,000 after acquiring an additional 661,572 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

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.