Royal Bank of Canada Raises W. P. Carey (NYSE:WPC) Price Target to $420.00

W. P. Carey (NYSE:WPC) had its price target raised by analysts at Royal Bank of Canada from $410.00 to $420.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock.

WPC has been the subject of a number of other reports. Evercore ISI boosted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Barclays upped their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Scotiabank raised their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company increased their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $108.50.

W. P. Carey Price Performance

Shares of WPC opened at $61.66 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The company’s fifty day moving average price is $61.59 and its 200-day moving average price is $58.20. W. P. Carey has a 1-year low of $52.91 and a 1-year high of $66.10. The firm has a market capitalization of $13.50 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that W. P. Carey will post 4.87 EPS for the current year.

Institutional Investors Weigh In On W. P. Carey

Several institutional investors have recently bought and sold shares of WPC. RFG Advisory LLC boosted its stake in shares of W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 3,049 shares during the last quarter. Sei Investments Co. boosted its stake in W. P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock worth $3,056,000 after purchasing an additional 8,197 shares during the last quarter. Signet Financial Management LLC purchased a new stake in shares of W. P. Carey during the fourth quarter worth $1,942,000. Diversified Trust Co acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $534,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after buying an additional 264,230 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

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.