Capital Investment Advisory Services LLC grew its holdings in shares of WP Carey Inc (NYSE:WPC) by 32.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,502 shares of the real estate investment trust’s stock after purchasing an additional 1,601 shares during the period. Capital Investment Advisory Services LLC’s holdings in WP Carey were worth $549,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Centaurus Financial Inc. increased its holdings in WP Carey by 65.4% in the 1st quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 811 shares during the last quarter. Manchester Financial Inc. acquired a new stake in WP Carey in the 2nd quarter valued at approximately $32,000. Parkside Financial Bank & Trust increased its holdings in WP Carey by 406.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 400 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 321 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new position in shares of WP Carey in the second quarter worth $53,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of WP Carey in the second quarter worth $57,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.
WPC has been the subject of several recent analyst reports. ValuEngine cut shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Citigroup raised shares of WP Carey from a “sell” rating to a “neutral” rating and boosted their price target for the company from $59.00 to $81.00 in a research report on Friday, June 7th. Finally, Zacks Investment Research reissued a “sell” rating on shares of WP Carey in a research report on Sunday, September 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 a consensus rating of “Hold” and an average target price of $77.00.
Shares of WPC opened at $88.46 on Friday. WP Carey Inc has a twelve month low of $62.12 and a twelve month high of $92.06. The firm has a market capitalization of $14.92 billion, a P/E ratio of 16.41, a PEG ratio of 6.58 and a beta of 0.46. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average is $87.63 and its two-hundred day moving average is $82.06.
WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.85). WP Carey had a net margin of 38.36% and a return on equity of 6.72%. The business had revenue of $305.21 million during the quarter, compared to analysts’ expectations of $303.23 million. During the same period last year, the company earned $0.60 EPS. Analysts predict that WP Carey Inc will post 4.9 EPS for the current year.
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.
Recommended Story: What is the formula for calculating total return?
Receive News & Ratings for WP Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WP Carey and related companies with MarketBeat.com's FREE daily email newsletter.