W.P. Carey (NYSE:WPC) Stock Rating Lowered by Royal Bank Of Canada

W.P. Carey (NYSE:WPC) was downgraded by stock analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Monday, Marketbeat reports. They currently have a $69.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 6.04% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Barclays boosted their target price on W.P. Carey from $66.00 to $67.00 and gave the stock an “underweight” rating in a report on Wednesday, December 3rd. UBS Group boosted their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Evercore ISI increased their price objective on shares of W.P. Carey from $70.00 to $72.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Scotiabank increased their price target on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.60.

W.P. Carey Stock Down 0.1%

Shares of WPC opened at $65.07 on Monday. W.P. Carey has a fifty-two week low of $52.91 and a fifty-two week high of $69.79. The company’s fifty day moving average is $67.11 and its two-hundred day moving average is $65.57. The firm has a market cap of $14.26 billion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 6.13 and a beta of 0.78. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The business had revenue of $431.30 million for the quarter, compared to analyst estimates of $424.44 million. During the same period last year, the company posted $1.18 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Analysts forecast that W.P. Carey will post 4.87 earnings per share for the current year.

Hedge Funds Weigh In On W.P. Carey

Institutional investors have recently made changes to their positions in the business. MTM Investment Management LLC acquired a new stake in shares of W.P. Carey during the second quarter worth approximately $28,000. Headlands Technologies LLC acquired a new position in W.P. Carey during the 2nd quarter worth $30,000. Wealth Watch Advisors INC bought a new stake in shares of W.P. Carey in the 3rd quarter worth about $33,000. LGT Financial Advisors LLC acquired a new stake in shares of W.P. Carey in the 3rd quarter valued at about $34,000. Finally, V Square Quantitative Management LLC bought a new position in shares of W.P. Carey during the second quarter worth about $40,000. 73.73% of the stock is 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.