W. P. Carey (NYSE:WPC) Upgraded by BMO Capital Markets to Outperform Rating

W. P. Carey (NYSE:WPC) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, Marketbeat reports. The brokerage currently has a $67.00 price target on the real estate investment trust’s stock, up from their previous price target of $60.00. BMO Capital Markets’ price objective points to a potential upside of 10.89% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. UBS Group dropped their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada upped their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Barclays dropped their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.38.

W. P. Carey Stock Up 0.0 %

WPC stock opened at $60.42 on Tuesday. The firm has a market cap of $13.22 billion, a PE ratio of 28.91, a PEG ratio of 1.01 and a beta of 0.97. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $64.26. The company has a fifty day simple moving average of $55.67 and a 200 day simple moving average of $57.62. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

Hedge Funds Weigh In On W. P. Carey

A number of hedge funds have recently made changes to their positions in WPC. Creative Planning lifted its stake in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after purchasing an additional 207 shares during the period. Blue Trust Inc. lifted its position in shares of W. P. Carey by 64.8% during the 3rd quarter. Blue Trust Inc. now owns 1,559 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 613 shares during the period. Capital Investment Advisors LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at $204,000. Raymond James & Associates grew its position in W. P. Carey by 2.8% in the third quarter. Raymond James & Associates now owns 370,669 shares of the real estate investment trust’s stock valued at $23,093,000 after acquiring an additional 10,152 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 341 shares during the period. Institutional investors and hedge funds 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.