Nomura Asset Management Co. Ltd. increased its position in shares of WP Carey Inc (NYSE:WPC) by 4.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 259,241 shares of the real estate investment trust’s stock after buying an additional 11,390 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in WP Carey were worth $15,057,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in WPC. Russell Investments Group Ltd. grew its position in WP Carey by 15.0% during the 4th quarter. Russell Investments Group Ltd. now owns 47,809 shares of the real estate investment trust’s stock worth $3,809,000 after purchasing an additional 6,249 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of WP Carey by 510.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,114 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 2,604 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of WP Carey by 53.9% in the 4th quarter. Victory Capital Management Inc. now owns 145,786 shares of the real estate investment trust’s stock valued at $12,264,000 after purchasing an additional 51,034 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of WP Carey by 13.5% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 65,179 shares of the real estate investment trust’s stock valued at $5,220,000 after purchasing an additional 7,737 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of WP Carey by 7.1% in the 4th quarter. Rhumbline Advisers now owns 233,278 shares of the real estate investment trust’s stock valued at $18,672,000 after purchasing an additional 15,384 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the stock. Citigroup cut their price objective on shares of WP Carey from $83.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Co upped their price objective on shares of WP Carey from $64.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of WP Carey from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.33.
In other news, Director Mark A. Alexander bought 4,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $45.83 per share, for a total transaction of $183,320.00. Following the completion of the acquisition, the director now owns 11,878 shares in the company, valued at approximately $544,368.74. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason E. Fox bought 10,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of $46.03 per share, for a total transaction of $460,300.00. Following the completion of the acquisition, the chief executive officer now owns 541,817 shares of the company’s stock, valued at approximately $24,939,836.51. The disclosure for this purchase can be found here. Insiders have bought 19,785 shares of company stock worth $1,003,248 over the last quarter. 1.09% of the stock is owned by company insiders.
WP Carey stock traded down $2.91 during trading hours on Thursday, hitting $65.50. 33,781 shares of the stock were exchanged, compared to its average volume of 991,423. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $11.84 billion, a P/E ratio of 36.97, a P/E/G ratio of 1.86 and a beta of 0.76. WP Carey Inc has a 12 month low of $38.62 and a 12 month high of $93.62. The business’s 50-day moving average is $61.74 and its two-hundred day moving average is $72.87.
WP Carey (NYSE:WPC) last announced its earnings results on Friday, May 1st. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.06. WP Carey had a net margin of 24.64% and a return on equity of 4.38%. The company had revenue of $294.60 million for the quarter, compared to analyst estimates of $278.30 million. During the same period in the prior year, the business earned $0.41 earnings per share. WP Carey’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that WP Carey Inc will post 4.24 earnings per share for the current fiscal 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.
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