W. P. Carey (NYSE:WPC) Price Target Cut to $63.00 by Analysts at Royal Bank of Canada

W. P. Carey (NYSE:WPC) had its target price dropped by research analysts at Royal Bank of Canada from $65.00 to $63.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price indicates a potential upside of 11.15% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Scotiabank reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Barclays initiated coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. StockNews.com initiated coverage on shares of W. P. Carey in a report on Thursday, January 4th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.18.

W. P. Carey Trading Up 1.4 %

Shares of WPC stock traded up $0.76 during trading hours on Friday, reaching $56.68. 1,392,501 shares of the stock traded hands, compared to its average volume of 1,360,679. The business has a fifty day moving average price of $55.86 and a 200 day moving average price of $58.83. W. P. Carey has a 1-year low of $51.36 and a 1-year high of $73.60. The company has a quick ratio of 0.62, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $12.40 billion, a PE ratio of 21.51, a PEG ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. W. P. Carey’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 earnings per share. On average, equities research analysts forecast that W. P. Carey will post 4.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First United Bank & Trust acquired a new stake in W. P. Carey during the fourth quarter worth $27,000. Central Bank & Trust Co. acquired a new position in W. P. Carey in the fourth quarter worth about $28,000. Riverview Trust Co bought a new position in W. P. Carey during the first quarter worth about $28,000. FNY Investment Advisers LLC acquired a new stake in W. P. Carey during the fourth quarter valued at approximately $32,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of W. P. Carey in the 1st quarter valued at approximately $30,000. Institutional investors own 73.73% of the company’s stock.

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.