W. P. Carey (NYSE:WPC) PT Lowered to $69.00

W. P. Carey (NYSE:WPC) had its target price decreased by Citigroup from $75.00 to $69.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price suggests a potential upside of 6.06% from the company’s current price.

A number of other brokerages have also weighed in on WPC. BNP Paribas began coverage on shares of W. P. Carey in a research report on Wednesday, June 14th. They set an “underperform” rating and a $74.00 target price for the company. StockNews.com began coverage on shares of W. P. Carey in a research report on Thursday, August 17th. They set a “hold” rating for the company. Royal Bank of Canada dropped their target price on shares of W. P. Carey from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Monday, July 31st. Bank of America lowered shares of W. P. Carey from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $78.00 to $67.00 in a research report on Monday, August 14th. Finally, JMP Securities dropped their target price on shares of W. P. Carey from $86.00 to $80.00 in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.29.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $65.06 on Wednesday. The firm has a fifty day moving average price of $67.57 and a 200-day moving average price of $72.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $13.92 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 7.20 and a beta of 0.76. W. P. Carey has a 1 year low of $63.10 and a 1 year high of $87.30.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.62). The firm had revenue of $452.60 million during the quarter, compared to analysts’ expectations of $430.48 million. W. P. Carey had a return on equity of 8.28% and a net margin of 45.21%. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. Equities analysts anticipate that W. P. Carey will post 5.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. TruWealth Advisors LLC increased its position in W. P. Carey by 1.4% during the 1st quarter. TruWealth Advisors LLC now owns 158,007 shares of the real estate investment trust’s stock valued at $12,238,000 after purchasing an additional 2,250 shares during the period. Ameritas Advisory Services LLC increased its position in W. P. Carey by 111.1% during the 4th quarter. Ameritas Advisory Services LLC now owns 12,184 shares of the real estate investment trust’s stock valued at $952,000 after purchasing an additional 6,413 shares during the period. Credit Suisse AG increased its position in W. P. Carey by 31.5% during the 4th quarter. Credit Suisse AG now owns 424,698 shares of the real estate investment trust’s stock valued at $33,190,000 after purchasing an additional 101,666 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in W. P. Carey by 6.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,181 shares of the real estate investment trust’s stock valued at $711,000 after purchasing an additional 552 shares during the period. Finally, City State Bank increased its position in W. P. Carey by 31.7% during the 1st quarter. City State Bank now owns 682 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 62.62% of the company’s stock.

About W. P. Carey

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,475 net lease properties covering approximately 180 million square feet and a portfolio of 85 self-storage operating properties, as of June 30, 2023.