Evercore ISI Issues Positive Forecast for W. P. Carey (NYSE:WPC) Stock Price

W. P. Carey (NYSE:WPC) had its target price upped by equities researchers at Evercore ISI from $60.00 to $64.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price indicates a potential upside of 6.14% from the company’s current price.

A number of other equities analysts have also weighed in on WPC. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Scotiabank lowered their price target 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. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a report on Tuesday. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Royal Bank of Canada upped their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned 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 $62.38.

W. P. Carey Stock Down 0.2 %

W. P. Carey stock traded down $0.10 during mid-day trading on Wednesday, reaching $60.30. The stock had a trading volume of 286,396 shares, compared to its average volume of 1,006,155. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey has a one year low of $52.91 and a one year high of $64.26. The company has a 50-day moving average price of $55.58 and a two-hundred day moving average price of $57.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. National Pension Service acquired a new position in shares of W. P. Carey during the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey in the fourth quarter valued at about $37,000. Millstone Evans Group LLC purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $37,000. Maia Wealth LLC purchased a new position in shares of W. P. Carey in the third quarter worth $40,000. Finally, Bessemer Group Inc. grew its position in W. P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 402 shares during the period. 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.