UBS Group Has Lowered Expectations for W. P. Carey (NYSE:WPC) Stock Price

W. P. Carey (NYSE:WPC) had its price objective decreased by analysts at UBS Group from $62.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target indicates a potential upside of 9.37% from the stock’s previous close.

A number of other equities analysts have also weighed in on WPC. Scotiabank dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Evercore ISI increased their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada cut their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Performance

Shares of NYSE WPC traded down $0.55 during trading on Thursday, reaching $54.86. 124,312 shares of the company traded hands, compared to its average volume of 1,209,386. The firm has a 50 day simple moving average of $59.75 and a 200-day simple moving average of $58.21. W. P. Carey has a 52-week low of $53.09 and a 52-week high of $67.40. The stock has a market capitalization of $12.01 billion, a PE ratio of 21.68, a P/E/G ratio of 1.03 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm’s revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 EPS. Equities research analysts anticipate that W. P. Carey will post 4.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WPC. Massmutual Trust Co. FSB ADV increased its holdings in W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the period. Catalytic Wealth RIA LLC increased its stake in shares of W. P. Carey by 5.2% during the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 198 shares during the period. Kowal Investment Group LLC raised its holdings in shares of W. P. Carey by 3.4% in the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 199 shares in the last quarter. Harbour Investments Inc. lifted its stake in W. P. Carey by 5.9% in the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 203 shares during the period. Finally, Creative Planning grew its holdings in W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other 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.