W.P. Carey (NYSE:WPC) Upgraded by Barclays to Equal Weight Rating

W.P. Carey (NYSE:WPC) was upgraded by investment analysts at Barclays from an “underweight” rating to an “equal weight” rating in a report released on Friday, Benzinga reports. The brokerage presently has a $80.00 target price on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 13.80% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Monday, June 8th. Wells Fargo & Company upped their price objective on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Finally, Royal Bank Of Canada increased their price target on shares of W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.38.

W.P. Carey Stock Down 0.4%

WPC opened at $70.30 on Friday. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 3.52 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. The firm’s fifty day moving average is $72.31 and its 200 day moving average is $72.49. W.P. Carey has a fifty-two week low of $63.08 and a fifty-two week high of $77.22.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Commonwealth Retirement Investments LLC purchased a new stake in shares of W.P. Carey in the 4th quarter valued at $26,000. Osbon Capital Management LLC acquired a new stake in W.P. Carey during the fourth quarter worth about $29,000. Headlands Technologies LLC acquired a new position in W.P. Carey in the second quarter valued at approximately $30,000. Wealth Watch Advisors INC purchased a new stake in W.P. Carey in the 3rd quarter worth approximately $33,000. Finally, Avalon Trust Co acquired a new position in shares of W.P. Carey in the 2nd quarter valued at $36,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.