BNP Paribas Exane Upgrades W. P. Carey (NYSE:WPC) to Neutral

W. P. Carey (NYSE:WPC) was upgraded by stock analysts at BNP Paribas Exane from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $66.00 price objective on the real estate investment trust’s stock. BNP Paribas Exane’s price target would indicate a potential upside of 5.44% from the company’s current price.

A number of other research firms also recently issued reports on WPC. UBS Group decreased their price target on shares of W. P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Scotiabank increased their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Royal Bank of Canada lifted their price target on W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Barclays set a $61.00 target price on W. P. Carey and gave the stock an “underweight” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus target price of $104.22.

W. P. Carey Stock Up 0.8%

Shares of WPC opened at $62.60 on Monday. W. P. Carey has a 12-month low of $52.91 and a 12-month high of $66.10. The business’s 50 day moving average is $60.87 and its 200 day moving average is $59.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $13.71 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. Research analysts expect that W. P. Carey will post 4.87 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. Inspire Investing LLC grew its stake in W. P. Carey by 2.3% in the 1st quarter. Inspire Investing LLC now owns 24,482 shares of the real estate investment trust’s stock worth $1,545,000 after acquiring an additional 547 shares in the last quarter. Invst LLC bought a new stake in shares of W. P. Carey in the first quarter valued at about $734,000. Modern Wealth Management LLC lifted its stake in W. P. Carey by 29.6% in the first quarter. Modern Wealth Management LLC now owns 9,167 shares of the real estate investment trust’s stock worth $578,000 after acquiring an additional 2,093 shares during the period. Strs Ohio purchased a new stake in W. P. Carey in the first quarter worth about $7,561,000. Finally, Intrua Financial LLC increased its position in W. P. Carey by 2.8% during the 1st quarter. Intrua Financial LLC now owns 8,285 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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.