RPg Family Wealth Advisory LLC reduced its stake in WP Carey Inc (NYSE:WPC) by 2.4% in the 1st quarter, HoldingsChannel reports. The firm owned 41,865 shares of the real estate investment trust’s stock after selling 1,012 shares during the quarter. WP Carey accounts for approximately 1.9% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 16th biggest position. RPg Family Wealth Advisory LLC’s holdings in WP Carey were worth $3,279,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Andra AP fonden purchased a new position in WP Carey in the 1st quarter valued at about $5,945,000. KC Investment Advisors LLC raised its stake in WP Carey by 2.7% during the first quarter. KC Investment Advisors LLC now owns 5,355 shares of the real estate investment trust’s stock worth $419,000 after acquiring an additional 140 shares during the period. Alphasimplex Group LLC acquired a new stake in WP Carey during the first quarter worth about $510,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of WP Carey in the first quarter valued at approximately $239,000. Finally, Neuberger Berman Group LLC increased its stake in shares of WP Carey by 14.7% in the first quarter. Neuberger Berman Group LLC now owns 21,906 shares of the real estate investment trust’s stock valued at $1,716,000 after purchasing an additional 2,809 shares during the period. Hedge funds and other institutional investors own 54.02% of the company’s stock.
NYSE:WPC traded up $0.20 during trading hours on Wednesday, reaching $85.09. 7,416 shares of the company’s stock were exchanged, compared to its average volume of 899,574. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 4.31 and a beta of 0.51. WP Carey Inc has a 12 month low of $62.12 and a 12 month high of $85.68. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.43 and a current ratio of 0.43.
Several equities research analysts have commented on the stock. Citigroup upgraded shares of WP Carey from a “sell” rating to a “neutral” rating and raised their price target for the company from $59.00 to $81.00 in a research note on Friday, June 7th. Zacks Investment Research upgraded shares of WP Carey from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Mitsubishi UFJ Financial Group lowered their price objective on shares of WP Carey to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Evercore ISI lowered shares of WP Carey from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Finally, Capital One Financial reiterated an “equal weight” rating on shares of WP Carey in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. WP Carey presently has an average rating of “Hold” and an average price target of $73.54.
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WP Carey Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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