W. P. Carey (NYSE:WPC) Raised to Outperform at BMO Capital Markets

W. P. Carey (NYSE:WPC) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage presently 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 would suggest a potential upside of 14.10% from the company’s current price.

A number of other brokerages have also issued reports on WPC. Scotiabank cut their price target on shares of 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. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays cut their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.63.

W. P. Carey Stock Performance

NYSE:WPC opened at $58.72 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The business has a 50 day moving average price of $55.49 and a 200-day moving average price of $57.58. The firm has a market cap of $12.85 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

Hedge Funds Weigh In On W. P. Carey

A number of hedge funds have recently bought and sold shares of the company. PharVision Advisers LLC purchased a new position in W. P. Carey in the fourth quarter worth about $213,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in W. P. Carey by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust’s stock worth $119,235,000 after acquiring an additional 134,523 shares during the last quarter. Two Sigma Advisers LP bought a new position in W. P. Carey in the 4th quarter valued at approximately $458,000. Two Sigma Investments LP boosted its stake in W. P. Carey by 30.5% during the 4th quarter. Two Sigma Investments LP now owns 47,797 shares of the real estate investment trust’s stock valued at $2,604,000 after purchasing an additional 11,180 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of W. P. Carey by 6.8% in the 4th quarter. Toronto Dominion Bank now owns 29,414 shares of the real estate investment trust’s stock worth $1,602,000 after purchasing an additional 1,863 shares in the last quarter. 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.