W.P. Carey Inc. (NYSE:WPC) Receives Consensus Rating of “Moderate Buy” from Brokerages

W.P. Carey Inc. (NYSE:WPC) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $79.3846.

Several equities research analysts have commented on WPC shares. Evercore set a $77.00 price objective on W.P. Carey in a research report on Thursday, July 30th. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. UBS Group reissued a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada raised 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 research report on Thursday, July 30th.

W.P. Carey Stock Down 0.5%

W.P. Carey stock opened at $69.60 on Friday. The firm has a market cap of $15.86 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 3.49 and a beta of 0.75. W.P. Carey has a 52 week low of $63.08 and a 52 week high of $77.22. The business’s 50-day moving average price is $72.11 and its 200 day moving average price is $72.40. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01.

Institutional Investors Weigh In On W.P. Carey

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in W.P. Carey in the 2nd quarter worth about $2,371,801,000. California State Teachers Retirement System boosted its position in W.P. Carey by 6,982.6% during the second quarter. California State Teachers Retirement System now owns 27,759,661 shares of the real estate investment trust’s stock worth $1,984,816,000 after purchasing an additional 27,367,721 shares in the last quarter. State Street Corp grew its holdings in W.P. Carey by 1.0% in the third quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust’s stock valued at $844,065,000 after purchasing an additional 119,817 shares during the period. Geode Capital Management LLC grew its holdings in W.P. Carey by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust’s stock valued at $307,913,000 after purchasing an additional 110,306 shares during the period. Finally, Invesco Ltd. increased its position in shares of W.P. Carey by 0.3% in the fourth quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust’s stock valued at $251,311,000 after buying an additional 12,305 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Company Profile

W.P. Carey Inc (NYSE: WPC) is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.