W. P. Carey (NYSE:WPC) Earns Underweight Rating from Barclays

W. P. Carey (NYSE:WPC)‘s stock had its “underweight” rating restated by equities researchers at Barclays in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $59.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $56.00. Barclays‘s price objective would suggest a potential upside of 8.84% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Monday. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. UBS Group dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Performance

NYSE:WPC opened at $54.21 on Tuesday. The firm’s 50-day moving average is $57.02 and its 200-day moving average is $58.03. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey has a 52-week low of $53.09 and a 52-week high of $67.40.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The company’s revenue was down 11.9% on a year-over-year basis. Equities research analysts anticipate that W. P. Carey will post 4.5 earnings per share for the current year.

Hedge Funds Weigh In On W. P. Carey

Several institutional investors have recently bought and sold shares of WPC. Allspring Global Investments Holdings LLC raised its holdings in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares during the last quarter. Quarry LP lifted its position in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of W. P. Carey in the second quarter valued at approximately $39,000. Maia Wealth LLC acquired a new position in W. P. Carey during the 3rd quarter worth $40,000. Finally, Ridgewood Investments LLC bought a new position in W. P. Carey in the 2nd quarter valued at $41,000. Institutional investors own 73.73% of the company’s stock.

About W. P. Carey

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.