W.P. Carey (NYSE:WPC) Stock Price Expected to Rise, Scotiabank Analyst Says

by · The Cerbat Gem

W.P. Carey (NYSE:WPC – Get Free Report) had its price objective boosted by analysts at Scotiabank from $67.00 to $72.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 4.14% from the company’s previous close.

WPC has been the subject of several other reports. Citigroup boosted their target price on W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Royal Bank Of Canada lifted their price target on W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their target price on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 9th. Finally, Barclays set a $65.00 price target on shares of W.P. Carey in a research report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.20.

Get Our Latest Stock Report on WPC

W.P. Carey Stock Down 0.9%

NYSE:WPC traded down $0.61 during midday trading on Monday, hitting $69.14. 167,006 shares of the company were exchanged, compared to its average volume of 1,225,536. W.P. Carey has a fifty-two week low of $54.24 and a fifty-two week high of $70.28. The company has a market capitalization of $15.15 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 5.95 and a beta of 0.78. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $66.59 and a 200 day simple moving average of $66.57.

Hedge Funds Weigh In On W.P. Carey

A number of large investors have recently bought and sold shares of WPC. Turning Point Benefit Group Inc. lifted its stake in shares of W.P. Carey by 6.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 148 shares during the period. Brookwood Investment Group LLC lifted its position in W.P. Carey by 1.7% in the fourth quarter. Brookwood Investment Group LLC now owns 8,936 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 149 shares during the period. Austin Private Wealth LLC lifted its position in W.P. Carey by 2.1% in the third quarter. Austin Private Wealth LLC now owns 7,654 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 161 shares during the period. D.A. Davidson & CO. boosted its holdings in W.P. Carey by 2.6% in the 3rd quarter. D.A. Davidson & CO. now owns 6,691 shares of the real estate investment trust’s stock valued at $452,000 after purchasing an additional 169 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its position in W.P. Carey by 0.6% during the 2nd quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock worth $2,011,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

About W.P. Carey

(Get Free Report)

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.

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