Wells Fargo & Company MN Boosts Stake in WP Carey Inc (WPC)

Wells Fargo & Company MN grew its position in shares of WP Carey Inc (NYSE:WPC) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 514,051 shares of the real estate investment trust’s stock after acquiring an additional 10,367 shares during the quarter. Wells Fargo & Company MN owned about 0.48% of WP Carey worth $33,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of WP Carey by 1.7% during the 2nd quarter. BlackRock Inc. now owns 7,228,551 shares of the real estate investment trust’s stock valued at $479,613,000 after acquiring an additional 124,191 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of WP Carey by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,584,041 shares of the real estate investment trust’s stock valued at $105,101,000 after acquiring an additional 45,940 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of WP Carey by 45.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,512,424 shares of the real estate investment trust’s stock valued at $97,263,000 after acquiring an additional 474,831 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of WP Carey by 0.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 1,076,625 shares of the real estate investment trust’s stock valued at $69,238,000 after acquiring an additional 4,362 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of WP Carey by 7.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 530,827 shares of the real estate investment trust’s stock valued at $35,221,000 after acquiring an additional 35,785 shares during the last quarter. Hedge funds and other institutional investors own 32.32% of the company’s stock.

In related news, Director Jean Hoysradt purchased 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average price of $64.73 per share, for a total transaction of $148,879.00. Following the acquisition, the director now owns 9,255 shares of the company’s stock, valued at approximately $599,076.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher Niehaus purchased 3,850 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average price of $66.08 per share, for a total transaction of $254,408.00. The disclosure for this purchase can be found here. Corporate insiders own 1.56% of the company’s stock.

WPC has been the subject of a number of research reports. Zacks Investment Research upgraded WP Carey from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, August 31st. ValuEngine upgraded WP Carey from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Finally, Bank of America increased their price target on WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.08.

NYSE:WPC opened at $68.44 on Friday. WP Carey Inc has a fifty-two week low of $59.23 and a fifty-two week high of $71.86. The firm has a market cap of $11.02 billion, a P/E ratio of 12.70 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.18 and a current ratio of 0.18.

WP Carey (NYSE:WPC) last released its quarterly earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.08. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The company had revenue of $209.40 million for the quarter, compared to analyst estimates of $215.47 million. During the same quarter in the prior year, the firm posted $0.74 EPS. WP Carey’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that WP Carey Inc will post 5.26 EPS for the current year.

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WP Carey Profile

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.

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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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