First Merchants Corp reduced its stake in W.P. Carey Inc. (NYSE:WPC) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,710 shares of the company’s stock after selling 150 shares during the period. First Merchants Corp’s holdings in W.P. Carey were worth $258,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WPC. State Street Corp increased its stake in W.P. Carey by 2.6% in the first quarter. State Street Corp now owns 1,611,987 shares of the company’s stock valued at $100,330,000 after buying an additional 41,380 shares in the last quarter. Geode Capital Management LLC increased its stake in W.P. Carey by 3.9% in the first quarter. Geode Capital Management LLC now owns 616,225 shares of the company’s stock valued at $38,353,000 after buying an additional 23,348 shares in the last quarter. BlackRock Group LTD increased its stake in W.P. Carey by 0.9% in the first quarter. BlackRock Group LTD now owns 604,266 shares of the company’s stock valued at $37,610,000 after buying an additional 5,335 shares in the last quarter. Royal Bank of Canada increased its stake in W.P. Carey by 20.2% in the first quarter. Royal Bank of Canada now owns 577,132 shares of the company’s stock valued at $35,921,000 after buying an additional 96,985 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in W.P. Carey during the first quarter valued at $16,151,000. Institutional investors own 47.84% of the company’s stock.
Shares of W.P. Carey Inc. (NYSE:WPC) traded up 2.06% during trading on Wednesday, hitting $66.24. 318,141 shares of the stock traded hands. The firm’s 50-day moving average price is $67.01 and its 200-day moving average price is $65.40. W.P. Carey Inc. has a 12 month low of $51.12 and a 12 month high of $72.89. The stock has a market cap of $7.00 billion, a PE ratio of 38.96 and a beta of 0.92.
W.P. Carey (NYSE:WPC) last posted its earnings results on Thursday, August 4th. The company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.65. The company earned $198.80 million during the quarter, compared to analysts’ expectations of $184.64 million. W.P. Carey had a net margin of 19.50% and a return on equity of 5.13%. W.P. Carey’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $1.31 earnings per share. Analysts anticipate that W.P. Carey Inc. will post $2.20 EPS for the current year.
Several analysts have weighed in on the stock. Citigroup Inc. boosted their price target on shares of W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a research note on Thursday, July 7th. Zacks Investment Research downgraded shares of W.P. Carey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Finally, BMO Capital Markets reissued a “hold” rating on shares of W.P. Carey in a research note on Thursday, June 23rd. One equities research 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. W.P. Carey has a consensus rating of “Hold” and an average target price of $71.63.
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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