Park Avenue Securities LLC lifted its position in shares of WP Carey Inc (NYSE:WPC) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,098 shares of the real estate investment trust’s stock after purchasing an additional 1,409 shares during the period. Park Avenue Securities LLC’s holdings in WP Carey were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Buckingham Asset Management LLC bought a new position in WP Carey during the 1st quarter worth $472,000. Patriot Investment Management Inc. bought a new position in shares of WP Carey in the 1st quarter worth about $250,000. Janus Henderson Group PLC raised its position in shares of WP Carey by 816.5% in the 1st quarter. Janus Henderson Group PLC now owns 436,651 shares of the real estate investment trust’s stock worth $34,203,000 after acquiring an additional 389,006 shares in the last quarter. New England Investment & Retirement Group Inc. grew its stake in shares of WP Carey by 90.9% in the 1st quarter. New England Investment & Retirement Group Inc. now owns 165,393 shares of the real estate investment trust’s stock valued at $12,955,000 after buying an additional 78,747 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of WP Carey by 7.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 61,800 shares of the real estate investment trust’s stock valued at $4,841,000 after buying an additional 4,283 shares during the period. Institutional investors own 54.06% of the company’s stock.
Shares of NYSE:WPC traded down $0.90 during mid-day trading on Wednesday, reaching $82.01. The company had a trading volume of 696,131 shares, compared to its average volume of 574,730. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $14.13 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 4.20 and a beta of 0.60. WP Carey Inc has a one year low of $62.12 and a one year high of $84.48.
WP Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $304.42 million. WP Carey had a net margin of 44.84% and a return on equity of 8.12%. WP Carey’s revenue was up 47.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. Research analysts predict that WP Carey Inc will post 4.97 earnings per share for the current year.
Several analysts have recently commented on WPC shares. Zacks Investment Research downgraded WP Carey from a “hold” rating to a “sell” rating in a research note on Saturday, April 27th. Evercore ISI downgraded 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. Capital One Financial reiterated an “equal weight” rating on shares of WP Carey in a research note on Tuesday, March 5th. ValuEngine upgraded WP Carey from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Finally, Mitsubishi UFJ Financial Group assumed coverage on WP Carey in a research note on Tuesday, March 26th. They set a “neutral” rating and a $78.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $72.05.
ILLEGAL ACTIVITY WARNING: This piece was reported by Sundance Herald and is owned by of Sundance Herald. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://sundanceherald.com/2019/05/29/wp-carey-inc-wpc-shares-bought-by-park-avenue-securities-llc.html.
About WP Carey
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.
Read More: What is a capital gain?
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.