W. P. Carey (NYSE:WPC) Price Target Raised to $66.00

W. P. Carey (NYSE:WPC) had its target price boosted by Wells Fargo & Company from $58.00 to $66.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on WPC. 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. Barclays upped their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Evercore ISI lifted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Royal Bank of Canada raised their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Performance

WPC opened at $61.97 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $13.56 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The stock has a 50-day moving average of $58.12 and a 200-day moving average of $58.25. W. P. Carey has a 52-week low of $52.91 and a 52-week high of $66.10.

Institutional Investors Weigh In On W. P. Carey

A number of institutional investors have recently added to or reduced their stakes in WPC. National Pension Service bought a new stake in shares of W. P. Carey in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new position in shares of W. P. Carey in the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey in the fourth quarter worth $37,000. RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey during the third quarter worth $44,000. Finally, Bessemer Group Inc. increased its holdings in W. P. Carey by 118.6% in the 4th 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. 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.