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

W. P. Carey (NYSE:WPC) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued 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 indicate a potential upside of 14.10% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada increased 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. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Barclays cut their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Scotiabank lowered their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One equities 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. According to MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.63.

W. P. Carey Stock Performance

Shares of WPC stock opened at $58.72 on Tuesday. The firm has a market capitalization of $12.85 billion, a PE ratio of 23.12, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a 50 day moving average price of $55.49 and a 200-day moving average price of $57.58. W. P. Carey has a 52 week low of $52.91 and a 52 week high of $64.26. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

Hedge Funds Weigh In On W. P. Carey

Several large investors have recently added to or reduced their stakes in WPC. PharVision Advisers LLC purchased a new stake in shares of W. P. Carey in the fourth quarter worth $213,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 buying an additional 134,523 shares during the period. Two Sigma Advisers LP purchased a new stake in W. P. Carey in the 4th quarter worth $458,000. Two Sigma Investments LP raised its holdings in W. P. Carey by 30.5% during the fourth quarter. Two Sigma Investments LP now owns 47,797 shares of the real estate investment trust’s stock valued at $2,604,000 after acquiring an additional 11,180 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of W. P. Carey by 6.8% in the fourth quarter. Toronto Dominion Bank now owns 29,414 shares of the real estate investment trust’s stock valued at $1,602,000 after acquiring an additional 1,863 shares in the last quarter. 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.