Barclays Cuts W. P. Carey (NYSE:WPC) Price Target to $56.00

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

Several other research analysts also recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. UBS Group lowered 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 report on Thursday, November 14th. Finally, Scotiabank decreased 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 research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.00.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $55.38 on Tuesday. 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 $52.91 and a 52-week high of $64.26. The company has a fifty day moving average of $55.40 and a 200-day moving average of $57.74. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97.

Institutional Trading of W. P. Carey

Several institutional investors and hedge funds have recently bought and sold shares of WPC. Wealthspire Advisors LLC raised its position in shares of W. P. Carey by 2.9% in the 4th quarter. Wealthspire Advisors LLC now owns 11,917 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 339 shares in the last quarter. Cohen Capital Management Inc. grew its stake in W. P. Carey by 23.5% in the fourth quarter. Cohen Capital Management Inc. now owns 69,239 shares of the real estate investment trust’s stock worth $3,772,000 after purchasing an additional 13,180 shares during the period. Concurrent Investment Advisors LLC raised its holdings in W. P. Carey by 2.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 11,531 shares of the real estate investment trust’s stock worth $628,000 after purchasing an additional 293 shares in the last quarter. Ieq Capital LLC purchased a new position in W. P. Carey during the fourth quarter valued at $227,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of W. P. Carey during the 4th quarter valued at $315,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

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.