First Midwest Bank Trust Division lowered its stake in W.P. Carey Inc. (NYSE:WPC) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,704 shares of the real estate investment trust’s stock after selling 86 shares during the period. First Midwest Bank Trust Division’s holdings in W.P. Carey were worth $508,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC increased its stake in shares of W.P. Carey by 5.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,916 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 100 shares in the last quarter. WFG Advisors LP increased its stake in shares of W.P. Carey by 159.3% in the first quarter. WFG Advisors LP now owns 2,344 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,440 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of W.P. Carey by 64.0% in the first quarter. Penserra Capital Management LLC now owns 2,608 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 1,018 shares in the last quarter. D. Scott Neal Inc. increased its stake in shares of W.P. Carey by 12.3% in the second quarter. D. Scott Neal Inc. now owns 2,471 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 271 shares in the last quarter. Finally, MUFG Americas Holdings Corp increased its stake in shares of W.P. Carey by 473.8% in the first quarter. MUFG Americas Holdings Corp now owns 2,869 shares of the real estate investment trust’s stock valued at $179,000 after buying an additional 2,369 shares in the last quarter. Institutional investors and hedge funds own 49.08% of the company’s stock.
W.P. Carey Inc. (NYSE WPC) traded down 0.3348% during trading on Friday, reaching $67.0149. The company’s stock had a trading volume of 61,355 shares. W.P. Carey Inc. has a 52-week low of $55.77 and a 52-week high of $69.12. The company has a market cap of $7.16 billion, a PE ratio of 25.8047 and a beta of 0.88. The stock has a 50-day moving average price of $67.23 and a 200 day moving average price of $64.46.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by $0.56. W.P. Carey had a return on equity of 8.10% and a net margin of 34.97%. The firm had revenue of $221.52 million during the quarter, compared to analysts’ expectations of $221.19 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. W.P. Carey’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts expect that W.P. Carey Inc. will post $2.23 EPS for the current year.
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Several brokerages recently weighed in on WPC. Evercore ISI downgraded W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research report on Monday, June 12th. Wells Fargo & Company restated a “market perform” rating and set a $69.00 price objective (up from $59.50) on shares of W.P. Carey in a research report on Friday, June 16th. BidaskClub downgraded W.P. Carey from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of W.P. Carey in a research report on Friday, June 16th. Finally, ValuEngine downgraded W.P. Carey from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $67.75.
W.P. Carey Company Profile
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.
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