Shares of W.P. Carey Inc. (NYSE:WPC – Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $75.69 and last traded at $75.5810, with a volume of 500434 shares changing hands. The stock had previously closed at $73.95.
Analysts Set New Price Targets
A number of analysts have commented on WPC shares. Barclays upped their price objective on shares of W.P. Carey from $72.00 to $78.00 and gave the company an “underweight” rating in a research note on Tuesday, May 19th. Wolfe Research raised shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Monday. Scotiabank upped their price objective on shares of W.P. Carey from $73.00 to $79.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 12th. Evercore set a $74.00 price objective on shares of W.P. Carey in a research note on Tuesday, February 17th. Finally, Citigroup upped their price objective on shares of W.P. Carey from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, W.P. Carey has an average rating of “Hold” and an average price target of $76.90.
Check Out Our Latest Analysis on WPC
W.P. Carey Stock Down 0.2%
W.P. Carey (NYSE:WPC – Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.69. The company had revenue of $454.51 million for the quarter, compared to the consensus estimate of $430.64 million. W.P. Carey had a return on equity of 6.29% and a net margin of 29.35%.The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. W.P. Carey has set its FY 2026 guidance at 5.160-5.260 EPS. On average, equities analysts predict that W.P. Carey Inc. will post 5.02 earnings per share for the current year.
Insider Buying and Selling
In related news, CAO Brian H. Zander sold 433 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $74.00, for a total value of $32,042.00. Following the transaction, the chief accounting officer owned 13,882 shares in the company, valued at approximately $1,027,268. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.98% of the company’s stock.
Hedge Funds Weigh In On W.P. Carey
A number of hedge funds have recently added to or reduced their stakes in WPC. Invesco Ltd. increased its holdings in W.P. Carey by 1.6% in the second quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust’s stock worth $46,984,000 after buying an additional 11,635 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in W.P. Carey in the second quarter worth approximately $115,000. Bank of Nova Scotia increased its holdings in W.P. Carey by 7.3% in the second quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 555 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in W.P. Carey in the second quarter worth approximately $3,494,000. Finally, Sei Investments Co. increased its holdings in W.P. Carey by 73.0% in the second quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust’s stock worth $6,050,000 after buying an additional 40,908 shares during 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.
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