Scotiabank Issues Positive Forecast for W.P. Carey (NYSE:WPC) Stock Price

W.P. Carey (NYSE:WPC) had its price objective hoisted by analysts at Scotiabank from $76.00 to $77.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential upside of 7.75% from the stock’s current price.

Several other equities research analysts have also issued reports on WPC. Evercore set a $77.00 price target on W.P. Carey in a research report on Thursday, July 30th. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Royal Bank Of Canada boosted their target price on shares of W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $73.00 to $83.00 in a report on Tuesday, June 16th. Finally, Wolfe Research upgraded shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.38.

W.P. Carey Stock Up 1.1%

NYSE WPC traded up $0.78 on Thursday, hitting $71.47. 102,431 shares of the stock traded hands, compared to its average volume of 1,400,674. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average of $73.21 and a 200 day moving average of $72.42. W.P. Carey has a twelve month low of $63.08 and a twelve month high of $77.22. The company has a market capitalization of $16.28 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.49 and a beta of 0.75.

Institutional Trading of W.P. Carey

Large investors have recently modified their holdings of the company. Jacobi Capital Management LLC grew its holdings in shares of W.P. Carey by 2.5% in the 4th quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after acquiring an additional 145 shares in the last quarter. Gen Wealth Partners Inc raised its holdings in W.P. Carey by 2.0% during the fourth quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock worth $487,000 after acquiring an additional 146 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in W.P. Carey by 0.7% during the first quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock valued at $1,459,000 after purchasing an additional 146 shares during the last quarter. Turning Point Benefit Group Inc. boosted its position in W.P. Carey by 6.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 148 shares during the last quarter. Finally, Vanderbilt University grew its stake in W.P. Carey by 1.1% in the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds 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.