JPMorgan Chase & Co. Has Lowered Expectations for W.P. Carey (NYSE:WPC) Stock Price

W.P. Carey (NYSE:WPC) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $79.00 to $74.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 12.04% from the stock’s current price.

WPC has been the topic of a number of other research reports. Barclays increased their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 3rd. UBS Group increased their target price on W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $69.00 price objective on shares of W.P. Carey in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, W.P. Carey has a consensus rating of “Hold” and an average target price of $68.60.

W.P. Carey Trading Up 1.6%

Shares of NYSE WPC opened at $66.05 on Tuesday. W.P. Carey has a 1-year low of $52.91 and a 1-year high of $69.79. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.25. The business’s 50 day moving average is $67.06 and its two-hundred day moving average is $65.58. The stock has a market capitalization of $14.47 billion, a P/E ratio of 40.03, a PEG ratio of 6.12 and a beta of 0.78.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The business had revenue of $431.30 million during the quarter, compared to analyst estimates of $424.44 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. As a group, research analysts expect that W.P. Carey will post 4.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WPC. State Street Corp grew its position in W.P. Carey by 1.0% in the 3rd quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust’s stock valued at $844,065,000 after acquiring an additional 119,817 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of W.P. Carey by 274.7% in the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock valued at $322,630,000 after purchasing an additional 3,747,898 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of W.P. Carey by 1.9% in the second quarter. Geode Capital Management LLC now owns 4,606,018 shares of the real estate investment trust’s stock valued at $286,581,000 after purchasing an additional 87,150 shares in the last quarter. Invesco Ltd. increased its stake in W.P. Carey by 416.8% during the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock worth $263,014,000 after buying an additional 3,139,266 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in W.P. Carey by 1.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,771,487 shares of the real estate investment trust’s stock worth $254,839,000 after buying an additional 55,437 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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.