Barclays Has Lowered Expectations for W. P. Carey (NYSE:WPC) Stock Price

W. P. Carey (NYSE:WPC) had its target price dropped by research analysts at Barclays from $59.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price objective points to a potential upside of 1.11% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Scotiabank dropped their price objective on shares of 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. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, UBS Group cut their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and a consensus target price of $62.00.

W. P. Carey Stock Performance

Shares of WPC opened at $55.38 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $12.12 billion, a PE ratio of 21.80, a PEG ratio of 1.01 and a beta of 0.97. W. P. Carey has a 1 year low of $52.91 and a 1 year high of $64.26. The stock’s fifty day moving average price is $55.40 and its two-hundred day moving average price is $57.74.

Hedge Funds Weigh In On W. P. Carey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RFG Advisory LLC boosted its position in shares of W. P. Carey by 91.7% during the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 3,049 shares during the last quarter. Equity Investment Corp grew its stake in W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after buying an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of W. P. Carey in the 3rd quarter worth $1,692,000. abrdn plc raised its position in shares of W. P. Carey by 9.9% during the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock valued at $6,396,000 after buying an additional 9,229 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of W. P. Carey by 7.0% during the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after acquiring an additional 2,075 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.