Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in shares of 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 (SEC). The fund owned 16,203 shares of the real estate investment trust’s stock after selling 176 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in W.P. Carey were worth $1,070,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its position in W.P. Carey by 17.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 349,785 shares of the real estate investment trust’s stock worth $21,764,000 after buying an additional 50,736 shares during the period. Janney Montgomery Scott LLC raised its position in W.P. Carey by 7.9% in the first quarter. Janney Montgomery Scott LLC now owns 21,015 shares of the real estate investment trust’s stock worth $1,308,000 after buying an additional 1,534 shares during the period. First Manhattan Co. raised its position in W.P. Carey by 0.6% in the first quarter. First Manhattan Co. now owns 15,700 shares of the real estate investment trust’s stock worth $1,013,000 after buying an additional 100 shares during the period. JPMorgan Chase & Co. raised its position in W.P. Carey by 6.8% in the first quarter. JPMorgan Chase & Co. now owns 305,597 shares of the real estate investment trust’s stock worth $19,015,000 after buying an additional 19,456 shares during the period. Finally, Rothschild Investment Corp IL raised its position in W.P. Carey by 6.0% in the first quarter. Rothschild Investment Corp IL now owns 5,266 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 300 shares during the period. 49.08% of the stock is owned by hedge funds and other institutional investors.
W.P. Carey Inc. (NYSE:WPC) opened at 67.10 on Monday. The firm’s 50-day moving average is $67.27 and its 200 day moving average is $64.51. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 25.84 and a beta of 0.88. W.P. Carey Inc. has a 1-year low of $55.77 and a 1-year high of $69.00.
W.P. Carey (NYSE:WPC) last posted its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $221.19 million. During the same period in the previous year, the company posted $1.24 EPS. W.P. Carey’s revenue was up 1.1% on a year-over-year basis. Equities analysts anticipate that W.P. Carey Inc. will post $2.23 EPS for the current fiscal year.
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A number of research analysts recently weighed in on WPC shares. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of W.P. Carey in a report on Tuesday, May 23rd. Evercore ISI lowered shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 target price for the company. in a report on Monday, June 12th. BidaskClub raised shares of W.P. Carey from a “buy” rating to a “strong-buy” rating in a report on Saturday. ValuEngine lowered shares of W.P. Carey from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $69.00 price objective (up from $59.50) on shares of W.P. Carey in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. W.P. Carey has a consensus rating of “Hold” and an average price target 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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