W. P. Carey (NYSE:WPC) Downgraded to Hold at StockNews.com

W. P. Carey (NYSE:WPCGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

WPC has been the subject of several other research reports. Raymond James started coverage on W. P. Carey in a research note on Thursday. They set an “outperform” rating and a $90.00 target price for the company. Zacks Investment Research upgraded W. P. Carey from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Wednesday, March 16th. Finally, Bank of America raised W. P. Carey from an “underperform” rating to a “neutral” rating in a report on Thursday, January 20th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $87.71.

WPC stock traded up $0.50 during trading on Monday, hitting $83.65. 831,243 shares of the company’s stock were exchanged, compared to its average volume of 904,743. The business has a 50-day moving average price of $79.27 and a two-hundred day moving average price of $78.55. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 37.51 and a beta of 0.75. W. P. Carey has a 52-week low of $71.72 and a 52-week high of $84.03. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.84.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Outfitter Financial LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth $25,000. TimeScale Financial Inc. acquired a new stake in shares of W. P. Carey during the fourth quarter worth $28,000. Gibson Wealth Advisors LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth $36,000. City State Bank acquired a new stake in shares of W. P. Carey during the fourth quarter worth $42,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth $44,000. 59.45% of the stock is owned by hedge funds and other institutional investors.

About W. P. Carey (Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

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Analyst Recommendations for W. P. Carey (NYSE:WPC)

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