Scotiabank Forecasts Strong Price Appreciation for W.P. Carey (NYSE:WPC) Stock

W.P. Carey (NYSE:WPC) had its price objective hoisted by research analysts at Scotiabank from $67.00 to $72.00 in a report issued on Monday, Marketbeat reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price points to a potential upside of 3.98% from the company’s current price.

Several other brokerages have also commented on WPC. Royal Bank Of Canada upped their target price on W.P. Carey from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 7th. Citigroup boosted their price target on W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. cut their price target on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, December 9th. Barclays set a $65.00 price objective on shares of W.P. Carey in a research report on Tuesday, January 13th. Finally, Evercore ISI dropped their target price on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.20.

W.P. Carey Price Performance

Shares of NYSE WPC opened at $69.25 on Monday. W.P. Carey has a twelve month low of $54.24 and a twelve month high of $70.28. The firm has a fifty day simple moving average of $66.66 and a 200 day simple moving average of $66.67. The company has a market capitalization of $15.18 billion, a PE ratio of 41.97, a P/E/G ratio of 5.83 and a beta of 0.78. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02.

Institutional Trading of W.P. Carey

A number of hedge funds and other institutional investors have recently bought and sold shares of WPC. State Street Corp lifted its stake in shares of 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 buying an additional 119,817 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of W.P. Carey by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,606,018 shares of the real estate investment trust’s stock worth $286,581,000 after acquiring an additional 87,150 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in W.P. Carey by 11.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,213,013 shares of the real estate investment trust’s stock valued at $271,150,000 after acquiring an additional 441,526 shares in the last quarter. Invesco Ltd. lifted its position in W.P. Carey by 416.8% in the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock valued at $263,014,000 after acquiring an additional 3,139,266 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in W.P. Carey by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,171,690 shares of the real estate investment trust’s stock valued at $214,315,000 after purchasing an additional 49,992 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

About W.P. Carey

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.