SPC Financial Inc. lowered its stake in WP Carey Inc (NYSE:WPC) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,580 shares of the real estate investment trust’s stock after selling 678 shares during the period. SPC Financial Inc.’s holdings in WP Carey were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in WP Carey by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,862,771 shares of the real estate investment trust’s stock valued at $121,714,000 after buying an additional 266,288 shares during the last quarter. Geode Capital Management LLC raised its holdings in WP Carey by 54.1% during the 4th quarter. Geode Capital Management LLC now owns 1,558,680 shares of the real estate investment trust’s stock valued at $101,768,000 after buying an additional 547,179 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in WP Carey during the 1st quarter valued at $360,000. Pennsylvania Trust Co raised its holdings in WP Carey by 340.8% during the 1st quarter. Pennsylvania Trust Co now owns 126,086 shares of the real estate investment trust’s stock valued at $10,392,000 after buying an additional 97,482 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in WP Carey by 43.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 26,630 shares of the real estate investment trust’s stock valued at $2,086,000 after buying an additional 8,030 shares during the last quarter. 54.04% of the stock is currently owned by institutional investors.
WP Carey stock traded up $0.30 during mid-day trading on Thursday, reaching $87.81. 16,688 shares of the company traded hands, compared to its average volume of 745,219. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.35 and a quick ratio of 0.35. The stock’s 50 day moving average price is $84.40. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 6.60 and a beta of 0.48. WP Carey Inc has a 52-week low of $62.12 and a 52-week high of $88.22.
WPC has been the subject of a number of recent analyst reports. Citigroup upgraded shares of WP Carey from a “sell” rating to a “neutral” rating and upped their price target for the company from $59.00 to $81.00 in a report on Friday, June 7th. ValuEngine lowered shares of WP Carey from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Zacks Investment Research lowered shares of WP Carey from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Mitsubishi UFJ Financial Group lowered their price target on shares of WP Carey to $77.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $76.50.
WP Carey Company 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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