Evercore ISI Raises W. P. Carey (NYSE:WPC) Price Target to $66.00

W. P. Carey (NYSE:WPC) had its target price hoisted by Evercore ISI from $63.00 to $66.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of W. P. Carey from $70.00 to $68.00 and set an overweight rating for the company in a research note on Friday, July 12th. Wells Fargo & Company lifted their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the company an equal weight rating in a research note on Monday, August 26th. UBS Group increased their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a neutral rating in a research note on Thursday, July 18th. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a sector perform rating on the stock in a research report on Wednesday, August 7th. Finally, JMP Securities reiterated a market perform rating on shares of W. P. Carey in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, W. P. Carey has an average rating of Hold and a consensus target price of $60.30.

W. P. Carey Stock Down 0.6 %

Shares of W. P. Carey stock opened at $63.12 on Monday. W. P. Carey has a 1 year low of $51.36 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market capitalization of $13.81 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The business has a 50-day moving average of $59.33 and a two-hundred day moving average of $57.33.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). The company had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business’s quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. As a group, equities analysts predict that W. P. Carey will post 4.52 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is owned by insiders.

Institutional Trading of W. P. Carey

Institutional investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of W. P. Carey in the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares in the last quarter. Riverview Trust Co bought a new stake in shares of W. P. Carey in the first quarter valued at approximately $28,000. Finally, YHB Investment Advisors Inc. acquired a new stake in W. P. Carey during the first quarter worth approximately $30,000. 73.73% of the stock is currently owned by institutional investors.

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.