W. P. Carey (NYSE:WPC) Coverage Initiated at Barclays

Analysts at Barclays initiated coverage on shares of W. P. Carey (NYSE:WPC) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $40.00 price target on the real estate investment trust’s stock. Barclays‘s target price would indicate a potential downside of 29.13% from the company’s previous close.

Several other equities research analysts have also issued reports on WPC. StockNews.com began coverage on shares of W. P. Carey in a report on Thursday, January 4th. They set a “hold” rating on the stock. Royal Bank of Canada dropped their price target on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Finally, Scotiabank reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $56.44 on Wednesday. The firm has a 50 day moving average of $58.32 and a 200-day moving average of $59.15. W. P. Carey has a 12 month low of $51.36 and a 12 month high of $78.23. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $12.34 billion, a PE ratio of 17.10, a PEG ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. During the same period in the prior year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that W. P. Carey will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WPC. Demars Financial Group LLC raised its stake in shares of W. P. Carey by 14.0% in the third quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust’s stock valued at $4,122,000 after acquiring an additional 9,334 shares during the period. Marshall Wace LLP increased its stake in shares of W. P. Carey by 720.1% in the second quarter. Marshall Wace LLP now owns 615,393 shares of the real estate investment trust’s stock worth $41,576,000 after acquiring an additional 540,357 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of W. P. Carey in the third quarter worth about $613,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in W. P. Carey by 5.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock worth $11,852,000 after purchasing an additional 10,562 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. acquired a new stake in W. P. Carey during the third quarter valued at $2,267,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Company Profile

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.